Good evening.
Stocks hit records (again), crypto market tops $3 trillion, and Elon turns to Twitter for financial advice.
Let’s dive in.
Markets
Here are today’s market moves:
What Happened?
U.S. stocks climbed on Monday, with the S&P 500 hitting a record for the eighth consecutive day. The last time this occurred was in 1997.
Why are stocks rallying? A combination of several factors, including strong corporate earnings and data showing the economic recovery remains on track.
On top of that, Covid cases are rapidly declining and the former chief of the FDA said that the pandemic is likely to be over soon.
The crypto market gained on Monday, with bitcoin approaching a new all time high after nearly three weeks of sideways action.
Catch Up
The overall market cap of cryptocurrencies hit $3.3 trillion on Monday.
Elon Musk asked his Twitter followers to vote on whether he should sell 10% of his Tesla shares. They voted yes.
Berkshire Hathaway builds cash position to record $149.2 billion.