Good evening.
Stocks hit new records, Fed keeps interest rates at zero, and Elon Musk is now worth more than the GDP of his home country.
Let’s dive in.
Markets
Here are today’s market moves:
What Happened?
U.S. stocks climbed on Thursday, with the S&P 500 closing at a record for a sixth consecutive day.
Yesterday, the Fed announced plans to start winding down its pandemic-era stimulus programs while keeping rates unchanged.
A low interest rate environment has helped drive stocks to records. Investors hope the momentum can continue through the end of the year.
November through January is usually the strongest period of the year for the stock market.
The crypto market was mixed on Thursday, with Bitcoin trading sideways around $61k but Ethereum near all time highs.
Catch Up
Google announces deal to move CME’s trading systems to the cloud.
Elon Musk is worth more than the GDP of South Africa, his home country.
The Biden administration announced a Jan. 4 deadline for a vaccine mandate that applies to employers with 100 or more employees.