September 24: Market Summary
China “bans” crypto transactions
Here are today’s market moves:
The S&P 500 climbed on Friday for a third straight day to end a wild week of trading.
Earlier this week, markets tumbled on fears around a crisis in China’s property market. Those concerns have eased.
The Federal Reserve said on Wednesday it will continue its economic support for now, driving stocks higher in recent days.
Also driving stocks higher is the fact that market dips have become much less common. Today’s investors are trained to BTD (“buy the dip”), no matter how small.
The crypto market fell on Friday, with Bitcoin trading near $43k, after China’s central bank “banned” all crypto transactions.
Twitter is allowing users to get tipped in Bitcoin.
SEC Chair Gary Gensler is expected to publish a report on the GameStop saga in the coming weeks.
The net worth of US households rose to a record $141.7 trillion in the second quarter, up 19.6% from a year ago.