Dow falls as Wall Street awaits inflation data, Bitcoin surges
From Yahoo Finance:
The US stock market was mixed on Tuesday, with the Dow Jones and S&P 500 sliding slightly from all-time highs while the Nasdaq remained flat. Investors are awaiting a crucial inflation report later in the week, impacting rate-setting decisions by the Federal Reserve. Consumer confidence also fell in February, with the Conference Board’s index dropping to 106.7 from January’s two-year high of 110.9. Meanwhile, Bitcoin surged to two-year highs above $57,000 per token, driven by a large investment from MicroStrategy and recent approvals of spot bitcoin ETFs in the US. Macy’s announced plans to close 150 stores in a bid to boost profit margins and cash flow. The housing market continues to struggle, with home prices rising and a significant drop in durable goods orders reported. Viking Therapeutics stock soared by 70% following positive trial results for their weight-loss treatment. Fractyl Health also saw a 6% increase in shares after receiving a Buy rating from Bank of America.
Read more at Yahoo Finance: Dow falls as Wall Street awaits inflation data, Bitcoin surges