Jan 10th, 2023 – On Wednesday, all major indexes rose. The S&P 500 increased by 0.57% to close at 4,783.45. The Dow Jones added 0.45% to close at 37,695.73, while the Nasdaq increased by 0.75% to end at 14,969.65.
Yesterday, a tweet was sent from the U.S. Securities and Exchange Commission’s (SEC) official X account regarding the acceptance of Bitcoin’s ETF. However, it was later revealed to have been made by an unauthorized third party. The Bitcoin price began exhibiting volatile movements, leading to over $300 million in liquidation of leveraged futures positions. The premarket share prices of Coinbase (COIN) and MicroStrategy (MSTR) fell more than 3% after the tweet incident.
The share price of the biopharmaceutical company TG Therapeutics (TGTX) dropped by more than 15% after announcing to investors an expected preliminary net revenue of around $40 million for the fourth quarter of 2023 and $89 million for the full year.
Amazon (AMZN) has announced significant job cuts in its Prime Video and MGM Studios divisions. Mike Hopkins, Senior Vice President of Prime Video and Amazon Studios, stated, “We are making these cuts to prioritize our investments for the long-term success of our business.” The market reacted positively to this news, resulting in a 1.6% increase in Amazon’s share price.
OpenAI publicized two products and services on Wednesday. The first one, the GPT store, enables users to list personalized chatbots. The second one, called ChatGPT Team, is a smaller version of ChatGPT Enterprise, which includes a shared workspace. ChatGPT Team is designed for businesses with fewer than 150 users, costing $30 per month per user, paid monthly. Both products will serve as new revenue streams for OpenAI.
The U.S. Securities and Exchange Commission (SEC) approved rule changes allowing the establishment of bitcoin exchange-traded funds (ETFs) in the United States. This significant development allows everyday investors to access cryptocurrency.
Author: Kaan Pinar