Bitcoin Price Update
The price of Bitcoin has risen to just over $46,000.
The Securities and Exchange Commission is expected to make a decision today on whether to approve the first exchange-traded fund for holding cryptocurrency.
Stock Market Update
The major stock indexes are showing modest gains, with technology shares leading the way after a rough start to the year. The S&P 500 is just 1% below its record high set two years ago.
Market Highlights
Bitcoin: The cryptocurrency reached a high of nearly $48,000 yesterday before falling back down. SEC Chair Gary Gensler has denied rumors that the agency approved spot Bitcoin ETFs.
Stocks: All three major indexes are trading higher after a week of declines at the start of the new year.
Meta Platforms: Shares of Facebook’s parent company are up nearly 4% after Mizuho issued a bullish outlook and raised its price target for the stock.
Microsoft vs. Apple: Microsoft is closing in on Apple for the title of most valuable U.S. company, with a market value over $1 trillion.
Treasury Yields: The yield on the 10-year bond remains steady at 4% after briefly dropping below this threshold.
Overseas Markets: Japan’s Nikkei 225 index reached a 34-year high, rising 2%.
Upcoming Events
Earnings Season: Major companies such as JPMorgan Chase & Co. and Bank of America are set to report this week.
Inflation Data: The U.S. will release consumer-price data on Thursday and producer prices on Friday.
