Good evening.
Stocks climb, Bitcoin is approaching a record, and Elon Musk is now worth more than Bill Gates and Warren Buffett combined.
Let’s dive in.
Markets
Here are today’s market moves:
What Happened?
U.S. stocks climbed on Friday following a strong streak of earnings reports.
Retail sales data came in better than expected. September retail sales rose 0.7% vs. an expected 0.2% decline.
The data suggests that Americans are spending enough money to sustain an economic recovery from the pandemic.
The S&P 500 is up 3.8% so far in October. The fourth quarter is generally known to be a strong period for stocks.
The crypto market gained on Friday, with Bitcoin climbing above $60k, as the SEC is set to allow the first U.S. bitcoin futures ETF to start trading next week.
Catch Up
Bitcoin tops $60,000 for the first time since April.
Elon Musk is now worth $230 billion—as much as Bill Gates and Warren Buffett combined.
The U.S national debt currently stands at $28.8 trillion.