📈 Powell propells S&P to fresh highs

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Happy Friday!

Fed Chair Powell's words ignited a wildfire of optimism, propelling the S&P 500 to dizzying new heights. Also, Bitcoin hit soaring highs this week—spoiler alert: it's anything but straightforward. And if that's not enough to get your adrenaline pumping, get ready to ride the rollercoaster of crypto AI tokens as they take center stage before the upcoming NVIDIA event.

Let's dive in!

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Nest 一 Acquired by Google for $3.2B

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From our partners

Markets

S&P 500 Blasts Off to New Record After Powell Speech Boosts Rate-Cut Optimism (2 minute read)
Fed Chair Powell's remarks sparked a market surge, propelling the S&P 500 to a fresh high. Powell hinted at imminent rate cuts, igniting speculation of a June kickoff. The Nasdaq surged 1.5%, reflecting Wall Street's confidence. Powell's words wielded immense power, shaping market sentiment and steering the rally. Powell's words hint at an imminent economic support plan. Traders eagerly await the Fed's June meeting for the kickoff.

Why Bitcoin highs are so complicated (2 minute read)
Bitcoin hits new all-time highs, but the celebration isn't universal. The peak price depends on where you look, with exchange-specific highs varying wildly. Kaiko Research reveals this divergence, highlighting the intricate world of crypto trading. The "kimchi premium" resurfaces, showcasing the disparity in prices on South Korean exchanges.

Investing

Abu Dhabi taps banks for Etihad Airways IPO (2 minute read)
Abu Dhabi's wealth fund ADQ, with potential IPO plans for Etihad Airways, taps HSBC, Citigroup, and First Abu Dhabi Bank as advisors. Rothschild & Co advises ADQ, signaling a shift from considering direct listing to traditional IPO. Etihad's CEO notes profitability and improved transparency, gearing up for a potential listing. ADQ's move aligns with Abu Dhabi's strategy to diversify its economy and boost investment, reflecting the emirate's evolving financial landscape.

Crypto AI Tokens in Focus as DOGE, SHIB Rally Starts to Ease (3 minute read)
Traders are buzzing as rumors swirl about Nvidia's upcoming conference possibly mentioning a crypto project, fueling a surge in AI-linked tokens. Coins like Fetch.AI, Render Network, Sleepless AI, and SingularityNET skyrocket up to 40%.

These projects promise innovative AI applications, from virtual companions to graphic card marketplaces. Reports suggest crypto AI developers are getting involved in Nvidia's event, igniting excitement. Mark your calendars for March 17-21 and we’ll find out!

China splurges on gold for a 16th month as price hits record (2 minute read)
China's central bank continues its gold-buying streak for the 16th consecutive month in February, bolstering the precious metal's ascent to record highs. With an increase of about 390,000 troy ounces, total reserves now stand at 72.58 million troy ounces.

While investors speculate on US interest-rate cuts, central-bank purchases, notably China's, have been a key factor driving gold's strength since 2022. Despite high prices, domestic demand in China remains robust amid economic uncertainties, reinforcing gold's status as a safe-haven asset.

Money

Can the Typical Person Become a Millionaire? (5+ minute read)
Forget the myth: saving $300 a month won't guarantee millionaire status by 60. These popular tales overlook real-life complexities. Income fluctuations and unpredictable market returns debunk the fantasy. Let's ditch the hypotheticals and dive into historical data for a reality check on wealth accumulation. It's time to separate myth from truth and empower financial decisions with facts. Becoming a millionaire demands more than a simple formula—it requires a strategic, adaptable approach to savings and investment. Let's get real about wealth building.

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