Weekly Stock Market Update: February 22, 2021

Last Week’s Top Five Market Winners Nasdaq Stock Market (NASDAQ) The past week showed significant gains for Canaan Inc. (CAN), Riot Blockchain Inc. (RIOT), 9F Inc. (JFU), Cleanspark Inc. (CLSK), and Wix.com Ltd. (WIX). Bitcoin continued to soar to new heights, boosting Canaan Inc. (CAN) and Riot Blockchain Inc. (RIOT), stocks related to the crypto market leader, alongContinue reading “Weekly Stock Market Update: February 22, 2021”

Oil gains on OPEC+ cut talks

OPEC+ will resume talks today with a view to planning for 2021 and the continuation of output cuts to support the oil price in a time when demand is lower as the world recovers from the pandemic. A deal is expected to be reached for cuts of 7.7 million barrels per day which has seenContinue reading “Oil gains on OPEC+ cut talks”

Bitcoin hits new record high

Bitcoin surged to a new all-time high of $19,712. Its adoption by payments giant PayPal, as well as its role in portfolios as a safe haven which can offer diversification away from other assets like equities and bonds, have caused a huge run up in its value this year. It’s one year return is nowContinue reading “Bitcoin hits new record high”

S&P Global in talks to pull off the biggest deal of 2020

Salesforce’s talks of a deal with workplace communications firm Slack dominated headlines late last week, but an even bigger deal was reported over the weekend. Per The WSJ, financial information firm S&P Global is in advanced talks to buy fellow data giant IHS Markit for $44bn. If that price stands, the deal would be theContinue reading “S&P Global in talks to pull off the biggest deal of 2020”

Dow closes above 30,000 for the first time ever

On Tuesday, the 124-year old Dow Jones Industrial Average closed above the 30,000 point mark for the first time in its history, almost four years after it first crossed the 20,000 mark. The Dow is now up more than 60% since its low in March, and surged through 30,000 with a 1.5% daily gain onContinue reading “Dow closes above 30,000 for the first time ever”

Second effective vaccine fuels rally, Tesla joins S&P

Dominating headlines yesterday was the news that Moderna’s Covid-19 vaccine has proven 94.5% effective in a late-stage trial, a week after Pfizer reported similar results in its own trial. More data is expected from the study later this month, and Moderna said that it plans to ask health authorities to clear the vaccine by earlyContinue reading “Second effective vaccine fuels rally, Tesla joins S&P”

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