Good evening.
Markets continue rebound, Facebook sheds $200 billion, and the U.S. debt exceeds $30 trillion.
Let’s dive in.
Markets
Here are today’s market moves:
What Happened?
U.S. stocks climbed for a fourth straight day on Wednesday.
Why? A combination of solid earnings results and a strong relief rally after a rough January.
But tomorrow could be volatile – Facebook shares are down 23% after a weak Q4 earnings report.
Investors are also trying to figure out how to position themselves as the Fed prepares to raise interest rates as soon as next month.
The crypto market fell late Wednesday, with Bitcoin trading near $37k, as cryptocurrencies followed U.S. stock futures lower.
Catch Up
Facebook sheds more than $200B in value after weak earnings report.
Hedge fund Melvin Capital was estimated to be down nearly 20% last month.
This year's Super Bowl tickets are the most expensive ever, up 20% from last year, to an average price of $10K.