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MARKET RECAP – SEPTEMBER 29, 2023

STOCK MARKET

Dow Jones ended at $33,507.50 (-0.47%)

S&P 500 ended at $4,288.05 (-0.27%)

Nasdaq Composite ended at $13,219.32 (+0.14%)

The stock market witnessed mixed performances for the last trading session of September with two indexes experiencing losses. Despite initial optimism due to the release of the latest PCE index report, which indicated easing inflation, positive sentiment did not last throughout the day. The focus shifted back to concerns about the potential for a government shutdown as House GOP leaders failed to pass a short-term spending bill, raising fears that federal lawmakers would not reach an agreement on time. Consequently, the Dow Jones Industrial Average and the S&P 500 decreased, with the latter experiencing its worst month in 2023. In contrast to these two indexes, despite the current concerns among investors, the Nasdaq Composite still managed to end the month on a positive note, increasing slightly for a second consecutive session. Nonetheless, it is important to highlight that September was still a challenging month for the Nasdaq, making it its worst month this year alongside the S&P 500.

CRYPTO MARKET

Bitcoin rose by 0.64% with a value of $26,917.80 as of 3:00 PM CST, as stated by Coin Metrics.

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