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🔥Bitcoin Surpasses $71,000 — What’s Driving the Surge?
Companies responsible for nearly 42% of the S&P 500’s market cap (like Apple, Microsoft, and Meta) are set to release their earnings reports this week.
The S&P 500 is climbing ahead of U.S. macroeconomic data, tech giants’ earnings reports, presidential elections, and the upcoming Fed meeting. As a result, the crypto market is also experiencing growth.
📌 Morgan Stanley:
“Earnings season in the U.S. serves as potential fuel for short-term stock market gains. However, things could shift, as U.S. equities tend to experience sell-offs about a week before elections, as seen in 2016 and 2020.”
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