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March 20: Market Summary
Fed decision
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:
![](https://media.beehiiv.com/cdn-cgi/image/fit=scale-down,format=auto,onerror=redirect,quality=80/uploads/asset/file/9f8af999-a502-4f40-abc7-8622c3d5c9c1/IMG_3800.jpeg?t=1710981082)
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.
![](https://media.beehiiv.com/cdn-cgi/image/fit=scale-down,format=auto,onerror=redirect,quality=80/uploads/asset/file/cc192b63-9008-4b3c-baef-715fc213dc6c/IMG_3802.jpeg?t=1710981355)
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
Reddit is going public on Thursday with a valuation of $6.4 billion.
The S&P 500, Nasdaq, and Dow Jones all notched record highs today.
BlackRock, the world's largest asset manager, is launching a tokenized asset fund.
What Else?
10% of successful investing is finding a great investment. The other 90% is not selling them.
— Ian Cassel (@iancassel)
8:04 PM • Feb 7, 2021
A real vibe shift is afoot in tech and business culture.
— Rachael Horwitz (@RachaelRad)
6:04 PM • Mar 12, 2024
I've raised over $150,000,000 as a founder, simply by being a good storyteller.
Here's how to get VC's to throw money at you:
— Justin Kan (@justinkan)
9:49 PM • Oct 20, 2021