In this week’s recap, the U.S. stocks ended far higher, with the Dow & S&P 500 reaching new record levels, as investors saw a much stronger than expected report on consumer spending & a sharp improvement in the number of new jobless claims. Dow +1.18%, S&P 500 +1.37%, NASDAQ +1.09%. Global stocks are hitting new record highs on Friday, after strong U.S. & Chinese economic data bolstered investor expectations of a solid global recovery from the coronavirus-induced slump, as the year progresses. MSCI’s broadest index of Asia-Pacific shares outside Japan was up +0.5% & Europe’s top indexes mostly higher, led by Britain’s FTSE 100, up +0.7% & passing 7,000 points for the 1st time since Feb 2020.
Coinbase’s stock price flat at around $330.00 per share Thursday morning. The cryptocurrency exchange was briefly worth as much as $100B in its Nasdaq debut on Wednesday, opening at $381 & quickly shooting up as high as $429.54, but later falling back to $328.28, thus giving it a market cap of $85.8B. Coinbase has soared in value over the past year alongside Bitcoin & Ethereum, which account for most of the volume on the site.
Cryptocurrency exchange Coinbase has a market valuation of about $85 billion. For comparison, the New York Stock Exchange owner Intercontinental Exchange is valued at $67 billion, while the group that owns the London Stock Exchange is worth $59 billion.
According to Refinitiv data: The total market capitalization of global equities hit $90 trillion last week. Stocks hit record highs across the world on optimism that vaccination programs & the easing of lockdowns to combat COVID-19 would bode well for an economic rebound.
Alibaba shares rise 16% after Chinese government fine; Bitcoin price hits new all-time high on Tuesday; director of the largest Ponzi scheme in history dies at 82; SpaceX increases its equity by another $ 1.16 billion; initial claims for unemployment benefits are declining in the US; U.S. retail sales rebounded sharply in March; Bitcoin price hit by Turkey’s bans on cryptocurrencies; colds out of season are affecting agriculture in Europe.