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MARKET RECAP – SEPTEMBER 27, 2023

STOCK MARKET

Dow Jones ended at $33,550.27 (-0.20%)

S&P 500 ended at $4,274.51 (+0.02%)

Nasdaq Composite ended at $13,092.85 (+0.22%)

The stock market witnessed mixed performances, with the Dow Jones Industrial Average extending losses for another trading session as although Treasury yields began the day with losses, the 10-year Treasury yield increased once again, reaching levels not seen since 2007. Additionally, the recent rise in oil prices also contributed to the negative sentiment. As a result, there is concerns among investors about higher borrowing costs for companies and the potential for inflation. Nonetheless, the overall market was not significantly affected as the S&P 500 an the Nasdaq Composite managed to increase, but these gains were relatively small, with the S&P 500 remaining almost unchanged. Moreover, it is worth to highlight that September is historically a seasonally weak month for stocks, and while volatility may continue in the coming weeks, some analysts expect strong buying opportunities later in October leading up to the end of the year.

CRYPTO MARKET

Bitcoin rose by 0.05% with a value of $26,233.35 as of 3:00 PM CST, as stated by Coin Metrics.

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