STOCK MARKET
Dow Jones ended at $41,606.18 (-0.04%)
S&P 500 ended at $5,634.58 (+0.03%)
Nasdaq Composite ended at $17,628.06 (+0.20%)
The stock market has witnessed mixed performances for another trading session as investors await the Federal Reserve’s key interest rate cut decision. The S&P 500 and Dow Jones Industrial Average remained almost unchanged, while the Nasdaq Composite managed to recover from the losses it experienced yesterday as the shares of Intel saw a significant jump after announcing plans to make its foundry business a subsidiary and receiving funding from the Biden administration. Nevertheless, it is worth noting that despite the S&P 500 and the Nasdaq ending today’s trading session on the positive side, there are still concerns about the potential impact of a steep rate cut on the economy, and the market is divided on the size of the potential cut, with some investors worried that a 50 basis point reduction could signal a negative view on the labor market. Moreover, although the latest retail sales figures were strong, uncertainty remains as traders await the Fed’s announcement.
CRYPTO MARKET
Bitcoin rose by 3.46% for the day, with a value of $59,936.00 as of 3:00 PM CST, as stated by Coin Metrics.
