STOCK MARKET
Dow Jones ended at $42,175.11 (+0.62%)
S&P 500 ended at $5,745.37 (+0.40%)
Nasdaq Composite ended at $18,190.29 (+0.60%)
The stock market witnessed gains across major indexes, with the Dow Jones Industrial Average and the S&P 500 recovering from yesterday’s losses, and the Nasdaq Composite increasing for a fourth consecutive session. This was due to the release of positive U.S. economic data, which included lower than expected weekly jobless claims, unchanged durable goods orders, and a strong second-quarter GDP. This upbeat economic data provided reassurance about the stability of the economy and alleviated concerns about the need for aggressive rate cuts by the Federal Reserve due to economic slowdown. Moreover, it is worth noting that the gains experienced by the S&P 500 and the Nasdaq were also driven by Micron Technology’s strong performance, which saw a significant increase after issuing positive guidance for the current quarter. Similarly, fellow semiconductor-linked stocks, such as Applied Materials and Lam Research, also experienced gains.
CRYPTO MARKET
Bitcoin rose by 2.39% for the day, with a value of $64,773.38 as of 3:00 PM CST, as stated by Coin Metrics.
