Market Brief 15 October, 2024

Good evening, investors and traders! The markets are experiencing a mixed performance today, with the Nasdaq 100 Index (NDX) down by -1.31% to 20,177.71 and the S&P 500 Index (GSPC) down by -0.78% to 5,817.35. Several significant news stories are impacting the market, including the launch of a new crypto project backed by Donald Trump and his sons, World Liberty Financial, which experienced technical issues during its token sale. Additionally, BlackRock CEO Larry Fink has declared Bitcoin a standalone asset class, potentially signaling a shift in institutional interest. The US government is reportedly considering capping exports of AI chips to certain countries, which could impact the tech sector. Finally, the Federal Reserve is closely monitoring inflation and the labor market as the US economy cools, with officials expressing optimism that the current economic expansion can be maintained.