STOCK MARKET
Dow Jones ended at $40,861.71 (+0.31%)
S&P 500 ended at $5,554.13 (+1.07%)
Nasdaq Composite ended at $17,395.53 (+2.17%)
The stock market witnessed gains across all major indexes, including the S&P 500 and Nasdaq Composite, which rose for another trading session as investors picked up shares of mega-cap tech and semiconductor names. This boosted both indexes significantly, with the Nasdaq increasing by over 2%. In addition, the Dow Jones Industrial Average also managed to report gains as bank stocks also rebounded from earlier lows. The gains came after initial tumbles following the consumer price index data, which dampened hopes for a half-point rate cut from the Federal Reserve. Thus, traders are now expecting a 25 basis point interest rate reduction at the September meeting. Moreover, it is worth remarking that the new data comes as investors grapple with seasonal headwinds, with September historically being a challenging month for the S&P 500.
CRYPTO MARKET
Bitcoin fell by 0.38% for the day, with a value of $57,590.56 as of 3:00 PM CST, as stated by Coin Metrics.
