Bitcoin having a good year

Equity markets continued their positive momentum, marking another week of gains since the rally began at the end of October 2023, buoyed by diminishing economic concerns.

The Federal Reserve’s preferred measure of inflation, the Personal Consumption Expenditure price index, fell as expected in January, allaying fears of a fresh acceleration.

The Nasdaq 100 soared past the 18,000 mark to achieve an unprecedented high, while the S&P 500 surged above 5,100 points, also hitting record highs.

The majority of S&P 500 companies reported their quarterly results: 73% exceeded earnings-per-share expectations and 64% beat revenue projections.

Bitcoin once again captured the market’s spotlight by surpassing $60,000, marking its strongest performing week since March 2023.

NYCB stock plummets

New York Community Bancorp faced a new turmoil as it disclosed a “material weakness” in its internal controls related to loan review processes, compounded by the departure of its CEO. On Friday, the company’s shares dropped more than 20%.