Markets
Here are today’s market moves:
What Happened?
The S&P 500 and Nasdaq climbed to fresh records on Tuesday, continuing the momentum after yesterday’s full approval for Pfizer’s Covid-19 vaccine.
The S&P 500 notched its 50th record close of 2021, while the Nasdaq closed above 15,000 for the first time ever.
Investors seem to think that rising Covid cases across the U.S. might mean the Fed will continue its accommodative policies for longer.
Reddit stocks made some moves today, with AMC up 20%, as retail traders get excited about theaters opening up.
The crypto market fell on Tuesday, with Bitcoin trading near $48k, as the market stabilized following Bitcoin’s rapid rise above $50k earlier this week.
What Else?
“The reason these tech companies are worth so much is because they have superior capital allocation”
*Spends $150k on blurry JPEG*
$1,000 invested at a 10% annualized return:
In 10yrs: $2,600
In 30yrs: $17,400
In 50yrs: $117,400
In 100yrs: $13,780,000
Really illustrates the importance of investing early and harvesting the blood of the young so that you live forever.