Good evening.
Stocks surge, earnings season is underway, and the difference between web 2.0 and web 3.0.
Let’s dive in.
Markets
Here are today’s market moves:
What Happened?
U.S. stocks rallied on Thursday, driven by better-than-expected earnings and economic data.
The S&P 500 had its best day in seven months, surging 1.7%:
Why the big move? Earnings season is going much better than expected. Of the eight S&P 500 companies that reported earnings today, all of them beat EPS expectations.
Also, the Labor Department said that unemployment claims fell to 293k last week, the lowest level since the start of the pandemic.
The crypto market climbed on Thursday, with Bitcoin trading near $58k, as BTC eyes the key $60,000 level.
Catch Up
Almost 20% of US households lost their entire savings during Covid.
Stripe says it’s building a crypto team to build the future of Web3 payments.
Microsoft will shut down LinkedIn in China as it faces harsher internet censorship in the country.