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MARKET RECAP – SEPTEMBER 20, 2024

Written By: Jenny Galeano Gamboa

September 20, 2024

STOCK MARKET

Dow Jones ended at $42,063.36 (+0.09%)

S&P 500 ended at $5,702.55 (-0.19%)

Nasdaq Composite ended at $17,948.32 (-0.36%)

The stock market ended the week with mixed performances, with the Dow Jones Industrial Average reaching a fresh record high and posting a winning week following the significant rate cut implemented by the Federal Reserve. Nevertheless, the S&P 500 and the Nasdaq Composite pulledback slightly. Despite this, all three major averages notched weekly gains, with the S&P 500 rising 1.36% and the Nasdaq advancing 1.49%. In addition, it is worth noting that although the S&P 500 and the Nasdaq decreased in today’s trading session, the overall market reaction to the rate cut was positive, and investors have confidence in the Fed’s proactive measures to sustain economic momentum.

CRYPTO MARKET

Bitcoin fell by 0.80% for the day, with a value of $62,873.75 as of 3:00 PM CST, as stated by Coin Metrics.

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