June 24: Market Summary
Biggest rally since 2020
Markets rally, Bitcoin climbs above $21,000, and the stock market has its best day since May 2020.
Let's dive in.
Here are today's market moves:
U.S. stocks surged on Friday, snapping a three-week losing streak.
The S&P 500 climbed more than 3%, its best day since May 2020:
Some investors say the recent bounce is simply a "bear-market rally," a short-term rebound amid a longer decline.
The first half of 2022 has been challenging for investors. The stock market is on track for its worst first-half performance since 1970.
The crypto market climbed on Friday, with Bitcoin trading near $21,000, moving in tandem with global stocks.
The Supreme Court on Friday overturned Roe v. Wade, ending 50 years of federal abortion rights.
Fed Chair Powell said "it's certainly a possibility" that interest rates will rise to levels that cause a recession.
Billionaire hedge fund manager Ken Griffin is moving his firm, Citadel, from Chicago to Miami.