Happy Friday.
October is finally here, and markets are off to a strong start.
Let’s dive in.
Markets
Here are today’s market moves:
What Happened?
U.S. stocks climbed on Friday, kicking off the fourth quarter with gains following a rough September.
Both the S&P 500 and Dow Jones posted their worst September since 2011.
September’s volatility was due to many factors, including:
Inflation fears
Rising yields
Debt-ceiling crisis
Evergrande crisis
Delta variant
October tends to typically be the start of a better seasonal period for markets.
The crypto market gained on Friday, with Bitcoin trading near $48k, as many analysts forecast a strong Q4 for digital assets.
Catch Up
Federal Reserve Chair Powell Says U.S. has no plans to ban crypto.
Congress passes bill averting government shutdown.
DeFi bug accidentally gives $90 million to users, founder begs them to return it.