Good afternoon.
Markets climb, U.S. consumer confidence hits 8-month high, and Elon Musk says he will step down as Twitter CEO.
Let's dive in.
Markets
Here are today's market moves:
What Happened?
U.S. stocks climbed on Wednesday after better-than-expected consumer confidence data for December.
The S&P 500 rose 1.49%, posting its best day of the month:
2022 was a rollercoaster year. Red-hot inflation, higher interest rates, and recession fears contributed to this year's selloff. Investors are hoping for a brighter 2023.
The crypto market was stable on Wednesday, with Bitcoin trading near $17k. The overall crypto market is finishing the year down 65%.
Catch Up
The world’s richest billionaires have lost $1.9T this year amid the stock market's tumble.
Elon Musk said he will resign as CEO of Twitter as soon he finds someone "foolish enough to take the job."
Coinbase stock is down 86% this year. The company now has a lower market cap than Dogecoin.