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March 20: Market Summary

Fed decision

March 20, 2024

Mar 20, 2024

Good afternoon.

Markets climb, the Fed holds interest rates steady, and Reddit is going public with a $6.4B valuation.

Let's dive in.

Markets

Here are today's market moves:

What's Happening

  • U.S. stocks climbed on Wednesday after the Fed held interest rates steady.

  • The S&P 500 climbed above 5200 for the first time – its 19th record close this year.

  • Markets rallied after the Fed kept rates unchanged and indicated three rate cuts this year.

  • The crypto market has surged in 2024. Bitcoin hit $73,000 last week, a record high.

Catch Up

  1. Reddit is going public on Thursday with a valuation of $6.4 billion.

  2. The S&P 500, Nasdaq, and Dow Jones all notched record highs today.

  3. BlackRock, the world's largest asset manager, is launching a tokenized asset fund.

What Else?