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MARKET RECAP – SEPTEMBER 11, 2023

STOCK MARKET

Dow Jones ended at $34,663.72 (+0.25%)

S&P 500 ended at $4,487.46 (+0.67%)

Nasdaq Composite ended at $13,917.89 (+1.14%)

The stock market kicked off the week with gains across all major indexes, with the S&P 500 and the Nasdaq Composite increasing due to the latest strong buying activity in the technology sector. Although tech shares had suffered a decline in previous weeks, investors’ sentiment improved as Tesla’s shares jumped by more than 9% after it received an upgrade from Morgan Stanley. In addition, Qualcomm shares also rose by over 3% due to the recent long term deal it made with Apple. Furthermore, the Dow Jones Industrial Average also joined the upward trend as Walt Disney shares experienced a rise of 1.3% after reports of a resolution to their cable blackout fight with Charter Communications. Moreover, the perception that the Federal Reserve is unlikely to raise interest rates at their upcoming meeting also contributed to the overall positive sentiment.

CRYPTO MARKET

Bitcoin fell by 2.82% with a value of $24,999.10 as of 3:00 PM CST, as stated by Coin Metrics.

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