Good evening.
Stocks near records, Apple inches closer to $3 trillion, and a Congressman says “Bitcoin could be displaced by hamster coin.”
Let’s dive in.
Markets
Here are today’s market moves:
What Happened?
U.S. stocks finished higher on Wednesday, with the major indexes near record highs.
Investors who sold last week due to uncertainty around Omicron seem to be buying back now.
The main focus this week is the consumer price index (CPI) report, which drops on Friday.
Last month, CPI showed prices increasing at the fastest rate in 31 years.
The crypto market was roughly flat on Wednesday, with Bitcoin trading near $51k, as price stabilizes after falling to $42k over the weekend.
Catch Up
House passes legislation to pave way for debt ceiling increase.
Apple nears $3 trillion market cap, a milestone that would make it as big as the world's fifth largest economy.
The top 0.01% of individuals now own 11% of global wealth.