📈 17th ATH this year

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Good Morning!

The S&P continues to hit new highs, whilst the Bitcoin rally cools off a little ahead of the halving. What is the halving you ask? We’ll break that down for you.

But first, a sentiment check.

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Markets

S&P 500 Logs 1.1% to Close at Fresh Record Despite Hotter February Inflation Readout (1 minute read)
The S&P 500 just showed off its muscles by hitting a new record high for the 17th time this year, smashing past 5,175 points with a 1.1% gain. This power move comes despite February's inflation report turning up the heat to a sizzling 3.2%, outpacing the economists' bets of 3.1%.

Tech companies are leading the rally, with the 'Magnificent Seven', the megacap stocks like Nvidia, Amazon, Microsoft, and Facebook's mommy Meta soaring. Nvidia jumping a sweet 5.2%.

The Nasdaq Composite leaped by 1.5%, and the Dow Jones did a decent 0.6% hop. So, while the Fed might keep interest rates high for a bit longer, investors aren’t phased.

Nvidia stock still isn't expensive even at a $2 trillion valuation, BofA says (2 minute read)
Nvidia continues to soar, and Bank of America is screaming "Buy!". They're so bullish about Nvidia that they're boosting their price target from $925 to a whopping $1,100. That's a sweet 24% potential jump from where it's at. Why all the hype?

Nvidia's shares have been on a wild ride, rocketing 80% since the start of the year and a jaw-dropping 287% over the past year. It's like their AI-enabling graphic cards are made of gold and everyone wants a piece.

Nvidia's gearing up for their "AI Woodstock" on March 18, where they'll be talking at the GPU Tech Conference and are set to unveil the next big thing after their hit H100 chip.

Unstoppable shopping slows (2 minute read)
The job market's humming along, unemployment's low, and wages are on the up, but hold the phone – consumers aren't spending like the good old days. This is a big flip from the recent "shop 'til you drop" era, where high interest rates and inflation didn't dent the shopping spree.

But now, caution's the new black in consumer fashion, and this shift in spending habits could put a dent in the economy. Let's talk numbers: retail sales inched up 0.6% in February, a bit of a recovery from January's sharper-than-expected 1.1% drop. But we've seen four months in a row where past data got a gloomy rewrite.

February's little bounce is mostly thanks to gas stations doing well – blame the high fuel prices. Plus, when you strip out the items like gas, cars, and building materials, spending's basically at a standstill. High interest rates, climbing energy costs, and general price angst are making consumers rethink their spending, with a noticeable tilt away from goods towards services.

Investing

Bitcoin halving: When will it happen and what does it mean for the price? (3 minute read)
Bitcoin's success this year comes largely down to the ETF that was approved in January, but now attention is on the upcoming "halving." Is it a game-changer boosting Bitcoin's value, or just a hyped-up technical tweak fueling speculative frenzy?

The halving is all about a tweak in Bitcoin's blockchain. It's like putting a speed limit on the Bitcoin production highway. This change cuts the new Bitcoin supply in half. When the halving hits, miners see their Bitcoin rewards slashed by 50%. This makes mining a tougher gig and slows down new Bitcoin inflation. So, what's this got to do with Bitcoin's price? It's the classic supply and demand tango. Less new Bitcoin means a scarcer supply, and if the demand holds steady or goes up, well, you do the math. Price could soar. Or not. Stay up to date with more Crypto news in our Crypto newsletter.

Tesla's Terrible 2024 Turns the Magnificent 7 Into 6 (4 minute read)
2024's not treating Tesla too kindly. It's been a bumpy ride, with their stock taking a dive deeper than Boeing's, earning them the dubious honor of being the S&P 500's worst performer.

Sure, electric vehicle sales are still chugging along, but the pace is slowing down, both in the U.S. and globally. Over in China, the world's EV hotspot, Tesla's seeing some sales uptick, but it's a dog-eat-dog market out there. They're up against local big dog BYD, who's throwing punches with a less-than-$10,000 model. And then there's Tesla's Shanghai output, which took a 6% hit year over year. To top it all off, their Berlin factory had to hit pause thanks to a power cut, possibly due to arson.

Money

Retirement Planning in your 20s, 30s and 40s (4 minute read)
It's not just about where you stand now, but how you've grown from your past self. The Fed breaks down median net worth by age, sure, but let's get personal. Comparing yourself to others? It's like checking your reflection in a funhouse mirror – a bit distorted.

When you're young and plotting for retirement, the secret isn't just about racking up big numbers. It's about crafting habits that build wealth over time. Your net worth at 28? It's less about the balance in your bank and more about the financial habits you're setting. And hey, there's always going to be someone with a thicker wallet. The key to financial peace of mind? A solid double-digit savings rate and squeezing every drop of potential from your career. That's the real measure of whether you're on the path to preserving and growing your wealth.

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