Good evening.
Stocks and crypto rebound, 2021 has been a bad year for IPOs, and could we see a Santa Rally?
Let’s dive in.
Markets
Here are today’s market moves:
What Happened?
U.S. stocks climbed on Tuesday, rebounding after three days of losses.
Investors regained confidence after President Biden said the U.S. will not bring back strict lockdowns.
Markets have oscillated recently due to Omicron worries, the Fed’s policy announcement, and investors locking in gains before the end of 2021.
Investors are hoping for a Santa Rally, the tendency for markets to rise in the last few days of December.
The crypto market gained on Tuesday, with Bitcoin trading near $49k, as cryptocurrencies climbed with other risk assets.
Catch Up
60% of this year’s initial public offerings are trading below their opening-day listing price.
The World Economic Forum in Davos was rescheduled from January to early summer due to the spread of Omicron.
Retail investors accounted for an estimated 23% of all U.S. equity trading this year.