Morning Brew Daily S&P 500 Hits New Highs & Gig Workers Get a Raise
8 snips
Jun 13, 2023 The S&P 500 is skyrocketing to new heights, shaking up the market. Young activists in Montana are boldly taking on fossil fuel investments, fighting for their future. New York City's gig workers just scored a wage increase, stirring up discussions on compensation. London is emerging as a new crypto capital, welcoming venture capital amidst U.S. regulations. Meanwhile, Italy is caught in quirky pasta protests due to rising food prices. It's an engaging blend of finance, activism, and cultural happenings!
AI Snips
Chapters
Transcript
Episode notes
Stock Market Rally
- The S&P 500 and NASDAQ hit their highest close since April 2022, driven by several factors.
- These include the debt ceiling deal, contained regional banking crisis, and AI hype.
Narrowing Rally?
- While the stock market rally is considered narrow, with gains concentrated in a few companies, it's broadening.
- In May, eight stocks drove S&P gains, but now it's 20, with small-cap stocks also rising.
Stock Market Winners
- Apple reached a record high, nearing a $3 trillion valuation.
- Tesla had its longest winning streak, and Oracle hit a record high due to cloud computing demand for AI.