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MARKET RECAP – SEPTEMBER 12, 2024

Written By: Jenny Galeano Gamboa

September 12, 2024

STOCK MARKET

Dow Jones ended at $41,096.77 (+0.58%)

S&P 500 ended at $5,595.76 (+0.75%)

Nasdaq Composite ended at $17,569.68 (+1.00%)

The stock market experienced gains across all major indexes for a second trading session due to investors shaking off a tough start to September and buying the dip in tech stocks in anticipation of a rate cut by the Federal Reserve next week. Tech giants like Nvidia, Alphabet, and Meta Platforms rallied, boosting the market during afternoon trading. Inflation data released this week and the upcoming Federal Reserve meeting were also factors contributing to the positive market performance. Consequently, the Dow Jones Industrial Average, the S&P 500 and the Nasdaq Composite reported gains, with the S&P 500 increasing for a fourth consecutive session. Moreover, it is worth noting that despite some volatility and choppiness, investors remain optimistic about the overall economic outlook.

CRYPTO MARKET

Bitcoin rose by 1.32% for the day, with a value of $58,343.90 as of 3:00 PM CST, as stated by Coin Metrics.

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