Good evening.
Stocks pull back, bitcoin hits a new record, and Tesla sees its biggest drop of the year.
Let’s dive in.
Markets
Here are today’s market moves:
What Happened?
The S&P 500 fell on Tuesday after hitting its eighth consecutive record high on Monday.
Today’s pullback should not come as a surprise after stocks have only gone up the past week.
Strong earnings results have boosted stocks to new highs in recent weeks.
Of the 460 companies in the S&P 500 that have reported quarterly results, 81% have beaten estimates.
The crypto market gained on Tuesday, with bitcoin reaching a new record high of $68,444. November and December tend to be bullish months for crypto.
Catch Up
Tesla fell 12% today after Elon Musk signaled he will sell 10% of his stock.
The $1 trillion infrastructure package passed Congress and is on its way to Biden for signing.
Alphabet, the parent company of Google, surpasses $2 trillion in market capitalization.