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MARKET RECAP – SEPTEMBER 27, 2024

Written By: Jenny Galeano Gamboa

September 27, 2024

STOCK MARKET

Dow Jones ended at $42,313.00 (+0.33%)

S&P 500 ended at $5,738.17 (-0.13%)

Nasdaq Composite ended at $18,119.59 (-0.39%)

The stock market ended the week with mixed performances as the Dow Jones Industrial Average reached a record high due to encouraging inflation data and strong labor market indicators, which suggested that the Federal Reserve may continue cutting interest rates, benefiting the economy. Nevertheless, although this was welcomed positively by all three major indexes, the S&P 500 and the Nasdaq Composite still reported slight losses after Nvidia’s shares declined by over 2%. Yet, it is important to remark that despite the mixed performances, the broader trend for the overall market was positive for the third consecutive week, with the Dow and the S&P 500 increasing by 0.6% for the week, while the Nasdaq rose by almost 1% for the same period.

CRYPTO MARKET

Bitcoin rose by 0.95% for the day, with a value of $65,670.00 as of 3:00 PM CST, as stated by Coin Metrics.

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