Good evening.
U.S. stocks hit records (again), consumer confidence rises, and Elon Musk has made more money in the last 9 months than Warren Buffett has in 91 years.
Let’s dive in.
Markets
Here are today’s market moves:
What Happened?
U.S. stocks climbed on Tuesday, with the S&P 500 and Dow closing at records.
Why? Company earnings so far have beaten expectations, helping boost stocks throughout October.
U.S. consumer confidence increased in October following three months of declines, according to data released Tuesday.
Also helping stocks is the simple fact that the fourth quarter is generally a strong period for markets.
The crypto market fell on Tuesday, with bitcoin trading near $60k, as the cryptocurrency takes a breather after rallying 40% in October.
Catch Up
Facebook is investing billions to become a metaverse company.
Car-rental giant Hertz plans to buy 100K Teslas for an estimated $4.2B.
Elon Musk is set to become the first person worth $300 billion.