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February 27: Market Summary

2024 market rally

February 27, 2024

Feb 27, 2024

Good afternoon. Markets are surging in 2024, Bitcoin climbs above $57k, and Nvidia hits a $2 trillion market cap.

Let's dive in.

Markets

Here are today's market moves:

What's Happening

  • The U.S. stock market is surging in 2024, shrugging off recession fears.

  • The S&P 500 is up 6.5% this year, trading at a record high:

  • Why are markets climbing? A combination of: strong Q4 earnings, rate cut hopes, and excitement around artificial intelligence.

  • The crypto market is also climbing, with Bitcoin hitting $57,000, its highest level since 2021.

Catch Up

  1. Nvidia is now the third largest U.S. company, hitting a $2T market cap.

  2. Berkshire Hathaway is sitting on a record $168 billion cash pile.

  3. Nasdaq nears record. The tech-heavy Nasdaq is 0.1% away from a record high.

What Else?