Happy Friday.
Dow hits a record, bitcoin takes a breather, and Trump’s SPAC skyrockets 1,600%.
Let’s dive in.
Markets
Here are today’s market moves:
What Happened?
U.S. stocks finished mixed on Friday, with the Dow closing at a record but the tech-heavy Nasdaq falling nearly 1%.
Big tech companies fell after Snap warned that Apple’s new privacy updates are hurting mobile ad spending.
October has generally been a good month for stocks as major companies announce better-than-expected earnings.
Investors hope the momentum can continue through the rest of 2021.
The crypto market fell on Friday, with bitcoin trading near $61,000, as price continues to pull back for now. The cryptocurrency hit a record high of almost $67,000 this week.
Catch Up
Trump SPAC skyrockets as much as 1,657% since deal was announced.
Fed Chair Powell says it’s time for Fed to taper bond purchases but not to raise rates.
WeWork goes public via SPAC two years after its failed IPO.