Good evening.
Bitcoin ETF starts trading, SEC explains GameStop frenzy, and learn how to win (without talent or luck).
Let’s dive in.
Markets
Here are today’s market moves:
What Happened?
U.S. stocks climbed on Tuesday as companies continued to report strong earnings results.
Around 10% of S&P 500 companies have reported so far. Of those, four out of five have beaten expectations.
Supply chain issues and rising prices haven’t hit corporate profits in a major way as initially feared.
The S&P 500 is now less than 1% away from a record high.
The crypto market gained on Tuesday, with Bitcoin climbing above $64k, as the U.S.’s first bitcoin ETF started trading today.
Catch Up
SEC says the main factor behind the GameStop frenzy wasn’t hedge funds covering their short positions. Instead, it was simply excitement around the stock.
The much-anticipated bitcoin futures ETF made its debut on the NYSE, rising more than 4%.
The top 1% gained a record $6.5 trillion during the pandemic.