Good evening.
Global stocks bounce, Bitcoin struggles to rally above $30k, and venture capital funding is starting to dry up.
Let's dive in.
Markets
Here are today's market moves:
What Happened?
U.S. stocks climbed on Friday, notching their biggest weekly gain since November 2020.
The S&P 500 gained nearly 7% for the week after seven straight weeks of losses, its longest losing streak since 2001.
Is the worst over? The answer is unclear. The global economy faces a series of obstacles, including ballooning inflation, higher rates, and geopolitical tensions.
U.S. financial markets will be closed on Monday for a holiday.
The crypto market fell on Friday, with Bitcoin trading near $28,700. The world's largest crypto is down nearly 40% this year.
Catch Up
Investors put more than $20 billion into global stocks this week – the largest net inflow in 10 weeks.
In recent weeks, venture capital funding has dried up, forcing startups to lay off employees and cut costs.
Andreessen Horowitz (a16z) announced a $4.5 billion fund for backing web3 companies – the largest crypto fund ever.