From Nasdaq:

The SEC has approved the spot Bitcoin exchange-traded funds (ETF), bringing Bitcoin to a wider audience of investors. On their initial trading day, Bitcoin ETFs had inflows exceeding $4.3 billion, with BlackRock Inc.’s iShares Bitcoin Trust ETF attracting over $1 billion. The Consumer Price Index increased to 3.4%, exceeding the anticipated 3.2%. A study forecasts a potential $1-trillion boost to the U.S. economy through generative AI. Google’s mass layoffs have raised uncertainty and unease among current and former employees. Microsoft Corp. briefly surpassed Apple Inc. to become the world’s most valuable company. Tesla Inc. announced a 6% reduction in price for its entry-level electric vehicles in China.

JPMorgan Chase & Co. posted robust earnings and raised its 2024 net interest income outlook, but Bank of America Corp. saw a 10% revenue dip. Wells Fargo & Company’s 2023 profit rose by 9% due to higher interest rates. Citigroup navigated a challenging quarter with lower revenue and plans for substantial job cuts. Alphabet Inc.’s Google has let go of more than 1,000 employees in a series of unexplained actions.

Microsoft Corp. briefly surpassed Apple Inc. to become the world’s most valuable company, marking a significant shift in the tech industry’s leadership. Tesla Inc. announced a 6% reduction in price for its entry-level electric vehicles in China, aiming to enhance its competitiveness in the Chinese market and attract more customers.



Read more: Bitcoin Debuts On Wall Street, Inflation Spikes, Apple And Tesla Skid: This Week In The Markets