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The massive stimulus bill was passed through Congress without any actual backing from the Republicans.
The weekly jobless claims as per the Labor Department report have dropped to a four-month low since November 2020. The tech and growth stocks continue to rally further with the stimulus boost.
Christie’s auction house noted that 91% of the 33 bidders for the Beeple NFT were new to the platform.
The consumer price index data shows that the inflation surge is in control within expected limits. Also, the falling Treasury yield boosted investor confidence in the market. UBS stays bullish on stocks for the next year.
The $1.9 trillion relief bill is the US’s sixth relief package since the beginning of the coronavirus pandemic. The House first passed it at the end of February, but it had to return to the House after Senate proposed their changes.
Nasdaq Composite rose by 3.69% to 13,073.82, which made Tuesday the best day for the index since November 2020. The S&P 500 climbed by 1.4% to 3,875.44. As for the Dow Jones, it rose by 30.30 points, or 0.1%, to 31,832.74.
In February, Tesla produced 23,632 cars and delivered 18,300 vehicles, which marks an 18% increase from the month before, when it sold 15,484 vehicles locally after exporting an estimated 7,956 cars from Gigafactory Shanghai.
Coinbase’s decision to go public is also an indication of the growing adoption and acceptance of cryptos by the mainstream.
Although one-year Tesla stock figures look good, 5-day, 1-month, and year-to-date movements are currently taking the heat, despite Bitcoin purchases.
From the technical point of view, Bitcoin price remains bullish both on the higher and lower timeframes.
In its announcement Ripple noted that it is happy with the progress it had achieved with MoneyGram.
The 306 points accrued by the Dow Jones were fueled by the approval of the Biden administration’s $1.9 trillion coronavirus stimulus bill by the US Senate.
First rumors about PayPal’s intention to acquire Curv appeared on March 2. Before that, PayPal was going to acquire crypto custodian giant BitGo. However, the deal didn’t go through.
While the COVID-19 pandemic has slowed down markets worldwide, especially the US stock market, several investors and traders went after alternative assets and options that could provide them a better store of value.
The Federal Reserve chairman acknowledged the surge in the US Treasury bond yields but didn’t suggest any action to keep the long-term yields under check.