Market Brief 05 September, 2024

Good evening, investors and traders! The Nasdaq 100 Index (NDX) closed up by 0.05% at 18,930.52, while the S&P 500 Index (GSPC) fell by -0.3% to 5,503.4. The market is experiencing volatility as investors grapple with economic uncertainty and the potential for a Fed rate cut. The U.S. economy is showing signs of slowing, with the ADP employment report indicating a decline in hiring and the ISM Services PMI showing moderate growth. The Federal Reserve is expected to cut interest rates, but the size of the cut remains uncertain. The crypto market is also experiencing volatility, with Bitcoin struggling to hold above $57,000 and Ethereum falling below $2,500.