March 29: Market Summary

The 2023 tech rally

Good afternoon. Markets rally, Bitcoin climbs above $28,000, and tech stocks are having their best quarter since 2020.

Let's dive in.

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Markets

Here are today's market moves:

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What Happened?

• U.S. stocks climbed on Wednesday as fears about the global banking system eased.

• The stock market is holding up despite the recent bank turmoil. The Nasdaq is up nearly 15% in the first quarter of 2023:

• Still, many investors remain cautious as the U.S. economy begins to show signs of cracks.

• The crypto market climbed on Wednesday, with Bitcoin trading near $28,400. The overall crypto market is up 52% in 2023.

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Catch Up

1. The Nasdaq 100 has entered a technical bull market, up 20% from its December low.

2. Elon Musk said Twitter is now worth $20 billion, less than half of the $44 billion he paid for it.

3. The Commodity Futures Trading Commission (CFTC) is suing Binance, the world's largest crypto exchange.

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What Else?

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6 graphs that will change the way you see life:

Hasan Toor ✪ @hasantoxr

ChatGPT unlocks secret opportunities to make money. No investment or experience is needed. Here are 6 ways you can make money using ChatGPT:

John W. Rich (Fake Tech Exec) @Cokedupoptions

VCs preparing for a recession