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The stock market saw a significant surge this week as investors processed the latest interest rate hike from the Federal Reserve, impressive January jobs report, and key earnings from companies such as Facebook’s parent company, Meta Platforms, and Peloton.
FTX reports $415 million of crypto stolen, which is a large portion of the assets the company is attempting to reclaim. They have identified $5.5 billion in total liquid assets to be recovered.
Treasury yields rose following the release of positive US economic reports, indicating potential for further interest rate hikes.
Donald Trump’s NFT sales have seen a 158% increase after his accounts on Facebook and Instagram were reinstated. There were 312 sales, with 14,570 individuals owning 32% of the collection.
The Bank of Japan’s decision to maintain its yield curve control policy has resulted in a sharp decline in the Japanese Yen, and an increase in the value of the US Dollar.
The stock prices of XPEV, a Chinese EV maker, have dropped by 5.61% due to China’s lower GDP growth rate and price reduction of up to 12.5% on its vehicle models.
Goldman Sachs reported $10.59 billion in estimated revenue, causing analysts to question the future of investment banking.
Tesla lowers prices to stimulate demand while maintaining profitability, according to Cathie Wood of Ark Invest.
Since Donald Trump’s ban from social media platforms, META stock has decreased 58.9%. An initial investment of $1,000 would now be valued at $410.94.
Jim Cramer suggested investors hold shares of Biomarin Pharmaceutical Inc and Black Stone Minerals LP. Kura Oncology saw a price increase, while the other two stocks experienced dips.
