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By Matthew Gutierrez and Shawn O’Malley
🚢 U.S. stocks (and bitcoin) have been cruising.
The Nasdaq is on a tear, up 10% in 2024 and 42% over the past 12 months.
After a 20%-plus drawdown in 2022, the index just closed at a new all-time high. Since 1977, that’s happened only 10 other times, and it could mean more good news for bulls: Over the ensuing 252 trading days, the average gain is over 20%.
— Matthew & Shawn
Here’s today’s rundown:
Today, we'll discuss the biggest stories in markets:
S&P 500, Nasdaq sitting pretty at new records
The SEC investigates OpenAI over misleading investors
This, and more, in just 5 minutes to read.
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POP QUIZ
The Nasdaq grew in prominence in the 1990s, rallying 150% in the 16 months through March 2000. But then the tech bubble burst — by how much did it fall by October 2002? (Scroll to the bottom to find out!)
Chart(s) of the Day
(SPX is an ETF for the S&P 500)
