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<a href="https://www.businessinsider.com/category/master-your-crypto"></a><div type="image" title="brian armstrong coinbase sam bankman-fried FTX" height="944" width="1258" msid="92553850" hostid="261"></div><ul class="summary-list"><li>I used <keyword id="11895315" type="UNKNOWN" weightage="60" keywordseo="coinbase" source="Orion">Coinbase</keyword> and <keyword id="11930688" type="UNKNOWN" weightage="60" keywordseo="ftx" source="Orion">FTX</keyword>.US, two of the largest exchanges, to buy <keyword id="11893898" type="UNKNOWN" weightage="60" keywordseo="crypto" source="Orion">crypto</keyword>.</li><li>Overall, Coinbase is the better choice if you're new to crypto and want something beginner-friendly.</li></ul>There are lots of big fish swimming in the booming crypto sea — and two of the largest exchanges are Coinbase and FTX.The former was founded in 2012 by CEO Brian Armstrong and has since grown to be many users' preferred place for buying and selling virtual coins. FTX, meanwhile, stood up in 2020 and in May <a href="https://www.theblockcrypto.com/linked/149654/ftx-surpassed-coinbase-as-second-biggest-centralized-crypto-exchange-in-may" target="_blank" rel="nofollow noopener sponsored">surpassed Coinbase</a> as the world's second-largest centralized exchange by market share, behind Binance.Of note: FTX's US arm, ftx.us, offers a slimmed-down version of what's available from FTX in other countries. How do the two platforms compare? And which should you choose if you're just now wading into the crypto waters? It depends on your experience level — and how willing you are to tolerate fees. <h2>FTX has NFTs, but only offers 27 different coins. Coinbase has over 150.</h2><div type="image" title="coinbase ftx apps" height="900" width="1200" msid="92553851" hostid="261"></div>I used Coinbase before to <a href="https://www.businessinsider.com/how-to-buy-nfts-on-opensea-2022-3" target="_blank" rel="nofollow noopener sponsored">buy crypto for the first time in March and eventually ended up purchasing an NFT.</a> But I'd never used FTX. After downloading the app, it very easily connected to my Gmail to create a new account. I originally bought ethereum on Coinbase, so I thought it'd be good to change it up and buy bitcoin on FTX. Coinbase has cemented itself as a beginner-friendly crypto exchange, so I was curious to see if FTX was similar or more geared toward experienced users.Right off the bat, I noticed that FTX has the option to buy and sell NFTs on top of crypto. That's a bit of an anomaly among <keyword id="6422582" type="UNKNOWN" weightage="60" keywordseo="crypto-exchanges" source="Orion">crypto exchanges</keyword>, though Coinbase is prepping to launch its own NFT marketplace later this year.Plus, FTX offers more types of trading, including <a href="https://help.ftx.us/hc/en-us/articles/360046850054-Margin-Trading" target="_blank" rel="nofollow noopener sponsored">margin lending</a>, where you borrow money from the platform through an automated system so you can invest more — with <a href="https://www.bloomberg.com/opinion/articles/2022-06-01/crypto-clearing-and-credit" target="_blank" rel="nofollow noopener sponsored">notable risk.</a> <div type="image" title="ftx.us nfts" height="900" width="1200" msid="92553852" hostid="261"></div>FTX offered 27 coins for me to buy — Coinbase offers five times that amount, with more than 150 cryptocurrencies available to trade. There were also a few popular coins that Coinbase offers that FTX does not, including Cardano and Polkadot.They both had bitcoin, of course, so I set out to diversify my portfolio.I typed in my legal name, birthday, home address, social security number, phone number, and debit card info. It was painless.There was a limit of $2,000 that I could deposit every 7 days, presumably since I was a new user. On Coinbase, there was a $7,500 weekly limit when using a credit card and $300 with a debit card.I deposited $60, which took a $2.04 card processing fee, and then quickly and easily bought $60 worth of bitcoin — or .00197 at the time.And just to refresh my memory — and check for any updates — I bought $20 more of Ethereum on Coinbase. When you take a screenshot of your assets on the Coinbase app, a banner pops up asking if you'd like to share your portfolio on social media.<div type="image" title="coinbase ftx apps" height="900" width="1200" msid="92553853" hostid="261"></div><h2>Coinbase is more established, has more to offer, and is better for newbies</h2>FTX is a good choice for seasoned crypto traders who buy and sell more on a daily and weekly basis thanks to lower trading fees. To buy $1,000 of bitcoin, you'd pay just $4 on FTX vs $14.90 on Coinbase, <a href="https://affiliate.insider.com?u=https%3A%2F%2Fwww.fool.com%2Fthe-ascent%2Fcryptocurrency%2Fftx-vs-coinbase%2F%23%3A~%3Atext%3DFTX.US%2520charges%2520much%2520lower%2Cstill%2520typically%2520comes%2520out%2520ahead.%3Fawc%3D12195_1654260460_498b8ec67c01e14c237525f91789643d%26utm_source%3Daw%26utm_campaign%3D78888" target="_blank" rel="nofollow noopener sponsored">The Motley Fool pointed out.</a>All in all, if you're looking for an exchange to simply satisfy your crypto curiosity and trade the major coins, Coinbase and its user-friendliness may be the better option. It has more cryptocurrencies available, including many FTX does not, and has been around eight years longer than its competitor. The crypto space is still trying to iron out the fraud and security kinks that have kept some users from trusting it in the same way they rely on the traditional financial system. Those anxieties might be another reason to stick with the most established player of the two: Coinbase. This article is intended to provide generalized information designed to educate a broad segment of the public; it does not give personalized investment, legal, or other business and professional advice. Before taking any action, you should always consult with your own financial, legal, tax, investment, or other professional for advice on matters that affect you and/or your business.

I used Coinbase and FTX to buy and trade crypto&mdash; here's how 2 of the largest exchanges stack up for beginners

<ul><li><keyword id="11893902" type="UNKNOWN" weightage="60" keywordseo="bitcoin" source="Orion">Bitcoin</keyword> could drop to $10,000 by 2023 as the Fed normalizes interest rate policy, according to Stifel.</li><li>The firm outlined three macro factors that have a big impact on the price of bitcoin.</li><li>"We see bitcoin in a broad <keyword id="6368158" type="UNKNOWN" weightage="60" keywordseo="trading" source="Orion">trading</keyword> range bounded by year-to-date intra-day levels with greater downside risk," Stifel said.</li></ul><a href="https://markets.businessinsider.com/currencies/btc-usd">Bitcoin</a> could plummet 76% from current levels to $10,000 by 2023 as the cryptocurrency faces three macro headwinds that have an influence on its price, according to a note from Stifel's Barry Bannister.Bannister highlighted global money supply, the 10-Year US Treasury yield, and the equity risk premium of the S&amp;P 500 that have influence over the price of bitcoin. Planned <a href="https://markets.businessinsider.com/news/stocks/stock-market-moves-explained-growth-value-rotation-rates-federal-reserve-2022-1">tightening by the Federal Reserve in the form of interest rate hikes</a> and a reduction in its balance sheet could have a negative impact on the price of bitcoin, according to Bannister."In 2022, we see bitcoin in a broad trading range bounded by year-to-date intra-day levels with greater downside risk in 2023 if the Fed continues to normalize policy in a 'standard' two-year tightening cycle," Bannister explained.Here are the three macro factors Bannister is monitoring to gauge what may be in store for the price of bitcoin going forward.1. "Bitcoin as a function of global money supply.""Both the S&amp;P 500 and bitcoin move with global money translated into dollar, bitcoin just moves more... If the dollar strengthens then global M2 money growth slows, which could tighten US financial conditions. If US financial conditions tighten, a high-powered speculative asset like bitcoin would likely fall significantly," Bannister said.2. "Bitcoin as a function of the real 10-year yield, gold price and oil price.""If 10-year real (after-inflation) TIPS US Treasury yield... rises due to Fed tightening... it restrains bitcoin upside, and if the rising 10Y TIPS yield pulls gold lower that also pressures bitcoin. If bitcoin divided by gold falls to the low end of its range (Fed tightens) bitcoin could drop to $10,000 by 2023," Bannister said.3. "Bitcoin as a function of how far the Fed can go before cracking stocks.""We believe the 10Y real yield rises no more than 80 basis points in 2022, the first year of a 2-year Fed tightening cycle, but then the S&amp;P 500 (and bitcoin) break down in 2023 as Fed keeps going; this is part of 'equity risk premium.' Bitcoin likes a lower equity risk premium, so watch if Fed exit raises equity risk premium (bearish bitcoin) or lowers equity risk premium (bullish)," Bannister said.The world's largest cryptocurrency by market value is already down 39% from its record November high, and a decline to Bannister's $10,000 target would represent a total drawdown of as much as 86%.Such a decline would not be out of the ordinary for bitcoin, as the extremely volatile and speculative asset plunged 83% from its prior high of about $20,000 in 2018.

Bitcoin could plummet to $10,000 by 2023 as 3 macro factors of crypto prices suggest weakness ahead, Stifel says

Happy Tuesday Opening Bell crew. I'm Phil Rosen — it's been a moment since we've checked in on the cryptocurrency sector. Rest assured it's still humming along, with bitcoin seeing nearly a 70% gain in the first three months of the year. Even meme token <a href="https://markets.businessinsider.com/news/currencies/dogecoin-price-elon-musk-crypto-twitter-logo-lawsuit-meme-token-2023-4">dogecoin saw a 20% jump late Monday</a> after the Shiba Inu mascot replaced Twitter's bird logo.I caught up with Shark Tank investor Kevin O'Leary, an active crypto investor and market veteran, to get his take on the <a href="https://markets.businessinsider.com/news/currencies/shark-tank-kevin-oleary-cryptocurrency-regulation-wonderfi-ftx-exchange-markets-2023-4">digital asset sector and recent regulatory action</a>.If this was forwarded to you, <a href="https://www.businessinsider.com/subscription/newsletter/10-things-opening-bell">sign up here</a>. Download Insider's app <a href="https://www.insider.com/app">here.</a><a href="https://markets.businessinsider.com/news/currencies/shark-tank-kevin-oleary-cryptocurrency-regulation-wonderfi-ftx-exchange-markets-2023-4"></a>1. The TV personality known as Mr. Wonderful told me Monday afternoon that his stance on cryptocurrencies hasn't changed all that much since FTX collapsed, but he has shifted his stance on <a href="https://markets.businessinsider.com/news/currencies/shark-tank-kevin-oleary-cryptocurrency-regulation-wonderfi-ftx-exchange-markets-2023-4">where to keep his assets</a>. Since November, he's moved his holdings to Canada, where he uses WonderFi, a name he's backed as an investor. He told me he first got a sense of the coming regulatory crackdown speaking to policymakers following hearings in December, when FTX's implosion was still top of mind."Talking to the senators after the hearings, I realized the frustration they had," O'Leary said. "They were really pissed off, and they have <a href="https://markets.businessinsider.com/news/currencies/shark-tank-kevin-oleary-cryptocurrency-regulation-wonderfi-ftx-exchange-markets-2023-4">released the hounds</a>. They told regulators 'go get them,' and all of a sudden we have a mountain of enforcement action."Just in the last few weeks <a href="https://markets.businessinsider.com/news/currencies/crypto-industry-sec-investigations-coinbase-lindsay-lohan-jake-paul-charges-2023-3?utm_medium=ingest&amp;utm_source=markets&amp;_gl=1*1lc2ysl*_ga*MjA5NTAyMzYyOS4xNjYyNDcwMDc5*_ga_E21CV80ZCZ*MTY4MDU1MDY4NS43MTguMS4xNjgwNTUzNDU2LjIuMC4w">US regulators have taken aim</a> at Coinbase and Binance, as well as a string of celebrities and influencers with ties to crypto. The SEC said it's "neutral" about the technology at hand, yet "<a href="https://markets.businessinsider.com/news/currencies/shark-tank-kevin-oleary-cryptocurrency-regulation-wonderfi-ftx-exchange-markets-2023-4">anything but neutral</a> when it comes to investor protection."That's led O'Leary to forecast that many of the crypto founders that helped jumpstart the sector are going to be <a href="https://markets.businessinsider.com/news/currencies/shark-tank-kevin-oleary-cryptocurrency-regulation-wonderfi-ftx-exchange-markets-2023-4">forced out by regulation</a> in the near future.Part of that is because those business leaders have never had to operate under the burden of compliance costs and rules."They don't know how to make money in a regulated environment," O'Leary said."I think they'll all be sued into oblivion by their own regulators. These rockstar crypto guys, they're not going to make it. I bet if you looked at who's managing these companies 36 months from now, <a href="https://markets.businessinsider.com/news/currencies/shark-tank-kevin-oleary-cryptocurrency-regulation-wonderfi-ftx-exchange-markets-2023-4">all the current guys are gone</a>."What do you think happens next in the crypto industry in light of the deepening regulatory crackdown? Tweet me (<a href="https://twitter.com/philrosenn" target="_blank" rel="noopener">@philrosenn</a>) or email me (<a href="mailto:prosen@insider.com" target="_blank" rel="noopener">prosen@insider.com</a>) to let me know. In other news:<a href="https://markets.businessinsider.com/news/commodities/oil-price-today-crude-opec-supply-cut-china-demand-outlook-2023-4"></a><div type="image" title="oil" height="2000" width="4000" msid="99240075" hostid="261" sizebytes="229572"></div>2. US stock futures rise early Tuesday, as investors continue to weigh the impact of the OPEC+ group's surprise output cut on global inflation. Plus, keep an eye out for the latest number from the monthly Job Openings and Labor Turnover Survey, due out later this morning. <a href="https://markets.businessinsider.com/premarket">Here are the latest market moves</a>. 3. On the docket: Credit Suisse, Nokia, and Scotiabank, all <a href="https://markets.businessinsider.com/earnings-calendar">reporting</a>.4. This batch of stocks have a market-beating combination of upside and outsized dividend growth, according to UBS. These 30 names can beat a volatile market as they surge through 2023 and keep raising their dividend payments, analysts said — <a href="https://www.businessinsider.com/best-stock-picks-investing-high-upside-dividend-growth-profit-ubs-2023-4">get the full list</a>.5. Morgan Stanley's top stock strategist said the blistering rally in tech stocks won't last. Even as the tech-heavy Nasdaq 100 is coming off its second-best quarter in a decade, the downside risk isn't quite gone yet, Mike Wilson explained: <a href="https://markets.businessinsider.com/news/stocks/stock-market-outlook-tech-sector-bear-nasdaq-defensive-bank-crisis-2023-4">"We see little evidence that a new bull market has begun and believe the bear still has unfinished business."</a>6. Wall Street pros are more bearish on stocks than at any point since 2008. That said, that might be good news for investors, as Bank of America's sell side indicator suggests <a href="https://markets.businessinsider.com/news/stocks/stock-market-outlook-bearish-sentiment-wall-street-great-financial-crisis-2023-4">the S&amp;P 500 will surge 16% over the next 12 months</a>.7. Tesla could extend its massive rally this year, according to Wedbush's Dan Ives. Price cuts to the company's Model Y and Model 3 vehicles "have paid major dividends for Musk and co.," he wrote in a research note. Musk's price war, in Ives' view, <a href="https://markets.businessinsider.com/news/stocks/tesla-stock-news-elon-musk-electric-vehicle-price-war-wedbush-2023-4">has clearly stoked up demand to start the year</a>.8. These 20-year-old college dropouts built a 28-unit real estate portfolio with less than $1,000 in savings combined. Caleb Hommel and Chuck Sotelo followed a mentor's advice in finding a great deal first. Then they raised the money to buy it. <a href="https://www.businessinsider.com/invest-in-real-estate-with-zero-money-upfront-seller-financing-2023-4">The pair did three deals in 2022 and used seller financing for each one</a>.9. Morningstar analysts listed out cheap stocks that will maintain higher-than-average dividends even in an economic slowdown. Investors can expect stable payouts regardless of what the broader economy is doing, the firm said. <a href="https://www.businessinsider.com/stock-picks-dividend-recession-proof-investing-undervalued-cash-flow-morningstar-2023-4">See their list of 10 names to buy now</a>.<a href="https://markets.businessinsider.com/news/commodities/oil-price-today-crude-opec-supply-cut-china-demand-outlook-2023-4"></a><div type="image" title="Brent crude price on April 4, 2023" height="918" width="1120" msid="99240076" hostid="261" sizebytes="25352"></div>10. Oil prices rallied following OPEC's unexpected supply cut. On Sunday, the oil cartel announced it would cut production by more than 1 million barrels per day, with Saudi Arabia leading the way with a 500,000 barrel-a-day reduction. <a href="https://markets.businessinsider.com/news/commodities/oil-price-today-crude-opec-supply-cut-china-demand-outlook-2023-4">Brent crude hovered at $85 a barrel early Tuesday.</a>Curated by Phil Rosen in New York. Feedback or tips? Tweet <a href="https://twitter.com/philrosenn" target="_blank" rel="noopener">@philrosenn</a> or email <a href="mailto:prosen@insider.com" target="_blank" rel="noopener">prosen@insider.com</a>.Edited by Max Adams (<a href="https://twitter.com/maxradams?lang=en" target="_blank" rel="noopener">@maxradams</a>) in New York and Hallam Bullock (<a href="https://twitter.com/hallam_bullock" target="_blank" rel="noopener">@hallam_bullock</a>) in London.

Shark Tank investor Kevin O'Leary breaks down his latest crypto bet as regulators look to crush 'rogue' operators

<ul class="summary-list"><li>US stocks edged lower Friday after the best trading day since November 2022.</li><li>The S&amp;P 500 is down half a percentage point this week amid growing concerns of an economic slowdown.</li></ul>US stocks edged lower on Friday, a day after stocks experienced <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/stock-market-today-dow-sp500-labor-market-jobless-claims-economy-2024-8">their best trading day since November 2022.</a>The strongest day of gains in nearly two years came just two days after stocks experienced their worst trading day since September 2022.For all of the volatility in markets this week, the <a target="_blank" class="" href="https://markets.businessinsider.com/index/s&amp;p_500">S&amp;P 500</a> is down just half a percentage point, as investors seek direction and juggle prospects of imminent interest rate cuts and the potential for an economic slowdown."Over the last few days, we have been reminded that risk-off moves happen quickly and can come from seemingly out of nowhere," Penn Mutual investment analyst Matt Dyer said.The volatility was sparked by a confluence of risk factors, headlined by the <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/stock-market-crash-yen-carry-trade-unwind-fed-japan-rates-2024-8">unwind of the yen carry trade</a> and concerns of <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/stock-market-crash-fed-rate-cuts-economy-recssion-inflation-powell-2024-8">a misstep by the Federal Reserve </a>following an uptick in the unemployment rate in July. But as stocks claw back some of the big losses incurred on Monday, the volatility has calmed down, with the stock market's fear gauge, the VIX, <a target="_blank" class="" href="https://www.businessinsider.com/stock-market-outlook-vix-increase-decline-growth-scare-tom-lee-2024-8">falling from an intraday peak of 65 on Monday</a> to just under 24 on Thursday.Looking ahead to next week, investors will be awaiting key inflation reports, including the Producer Price Index on Tuesday, followed by the Consumer Price Index on Wednesday.Analysts on Wall Street say they're expecting a modestly stronger consumer inflation reading, but not hot enough to derail the outlook for the Fed to cut interest rates next month. "We forecast headline CPI rose by 0.3% m/m in July, owing mainly to a pickup in core services inflation and energy prices. This would leave the y/y rate unchanged at 3.0%. Meanwhile, we expect core CPI increased by 0.2% m/m," Bank of America analysts wrote Friday, adding that if data comes in-line with their forecasts, markets will start pricing in fewer rate cuts. Here's where US indexes stood shortly after the 9:30 a.m. opening bell on Friday:<ul><li><a target="_blank" href="https://markets.businessinsider.com/index/s&amp;p_500?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets">S&amp;P 500</a>: 5,310.83, down 0.17% </li><li><a target="_blank" href="https://markets.businessinsider.com/index/dow_jones?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets">Dow Jones Industrial Average</a>: 39,325.47, down 0.31% (-121 points)</li><li><a target="_blank" href="https://markets.businessinsider.com/index/nasdaq_composite?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets">Nasdaq composite</a>: 16,650.78, down 0.06% </li></ul>Here's what else is going on today:<ul><li><a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/jeremy-grantham-stock-market-outlook-asset-bubble-crash-recession-ai-2024-8">Legendary investor Jeremy Grantham warned that stocks are poised to crash as a recession appears inevitable.</a></li><li><a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/stock-market-presidential-election-prediction-winner-donald-trump-kamala-harris-2024-8">Here's how the stock market can predict who will win the Presidential election in November.</a></li><li><a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/stock-market-outlook-economy-recession-earnings-growth-selloff-unemployment-rate-2024-8">There are two conflicting forces that will define how stocks perform the rest of the year.</a></li></ul>In commodities, bonds, and crypto:<ul><li><a target="_blank" href="https://markets.businessinsider.com/commodities/oil-price">West Texas Intermediate</a> crude oil rose 0.32% to $76.43 a barrel. <a target="_blank" href="https://markets.businessinsider.com/commodities/oil-price">Brent crude</a>, the international benchmark, increased 0.25% to $79.36 a barrel.</li><li><a target="_blank" href="https://markets.businessinsider.com/commodities/gold-price">Gold</a> was higher by 0.22% to $2,468.70 per ounce.</li><li>The 10-year Treasury yield dropped 7 basis points to 3.92%.</li><li><a target="_blank" href="https://markets.businessinsider.com/currencies/btc-usd">Bitcoin</a> dropped 2.34% to $60,261.</li></ul>

Stock market today: US stocks edge lower after best day of the year as volatile week wraps up 

<ul class="summary-list"><li>US stocks rose Friday, though were down slightly for the week. </li><li>Investors were able to claw back most of the losses from the big Monday sell-off. </li></ul>US stocks rose on Friday but ended with their fourth-straight weekly loss.A volatility surge on Monday led to whiplash trading for the stock market this week as investors dealt with <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/stock-market-crash-yen-carry-trade-unwind-fed-japan-rates-2024-8">the yen carry trade unwind</a> and concerns of <a target="_blank" class="" href="https://www.businessinsider.com/sahm-rule-recession-outlook-indicator-triggered-unemployment-rate-jobs-report-2024-8">a potential economic slowdown.</a>The swings during the week — with the S&amp;P 500 notching its worst day since 2022 on Monday and then its best day in that same stretch on Thursday — made for the most volatile trading week of 2024. The rollercoaster concluded on Friday with stocks rising modestly after struggling to gain at the start of the session. A muted weekly jobless claims report on Thursday <a target="_blank" class="" href="https://www.businessinsider.com/stock-market-today-dow-sp500-labor-market-jobless-claims-economy-2024-8">helped push stocks higher</a> for their biggest gain in nearly two years as sentiment around the economy and the labor market improved after investors panicked following last week's July jobs report. "Market narratives can change quickly, but they are not always right. This has occurred many times this cycle, and it will happen again. Don't make investment decisions based on any one indicator or number," Raymond James CIO Larry Adam said.Looking ahead to next week, investors will be awaiting key inflation reports, including the Producer Price Index on Tuesday, followed by the Consumer Price Index on Wednesday.Analysts on Wall Street say they're expecting a modestly stronger consumer inflation reading, but not hot enough to derail the outlook for the Fed to cut interest rates next month."We forecast headline CPI rose by 0.3% m/m in July, owing mainly to a pickup in core services inflation and energy prices. This would leave the y/y rate unchanged at 3.0%. Meanwhile, we expect core CPI increased by 0.2% m/m," Bank of America analysts wrote Friday, adding that if data comes in-line with their forecasts, markets will start pricing in fewer rate cuts.Here's where US indexes stood at the 4:00 p.m. closing bell on Friday:<ul><li><a target="_blank" href="https://markets.businessinsider.com/index/s&amp;p_500?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets">S&amp;P 500</a>: 5,344.17, up 0.47% </li><li><a target="_blank" href="https://markets.businessinsider.com/index/dow_jones?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets">Dow Jones Industrial Average</a>: 39,497.93, up 0.13% (+51.05 points)</li><li><a target="_blank" href="https://markets.businessinsider.com/index/nasdaq_composite?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets">Nasdaq composite</a>: 16,745.30, up. 0.5%</li></ul>Here's what else happened today:<ul><li><a target="_blank" class="" href="https://www.businessinsider.com/inflation-outlook-olympics-taylor-swift-us-economy-fed-rate-cuts-2024-8">UBS said Taylor Swift concerts and the Olympics could lead to a fresh surge in global inflation.</a></li><li><a target="_blank" class="" href="https://www.businessinsider.com/nvidia-stock-price-outlook-earnings-demand-blackwell-chips-tech-stocks-2024-8">Mizuho bumped its Nvidia price target to $132 ahead of its upcoming earnings report, suggesting potential upside of 26%.</a></li><li><a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/jeremy-grantham-stock-market-outlook-asset-bubble-crash-recession-ai-2024-8">Legendary investor Jeremy Grantham warned that stocks are poised to crash as a recession appears inevitable.</a></li><li><a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/stock-market-presidential-election-prediction-winner-donald-trump-kamala-harris-2024-8">Here's how the stock market can predict who will win the Presidential election in November.</a></li><li><a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/stock-market-outlook-economy-recession-earnings-growth-selloff-unemployment-rate-2024-8">There are two conflicting forces that will define how stocks perform the rest of the year.</a></li></ul>In commodities, bonds, and crypto:<ul><li><a target="_blank" href="https://markets.businessinsider.com/commodities/oil-price">West Texas Intermediate</a> crude oil rose 1.04% to $76.98 a barrel. <a target="_blank" href="https://markets.businessinsider.com/commodities/oil-price">Brent crude</a>, the international benchmark, increased 0.71% to $79.72 a barrel.</li><li><a target="_blank" href="https://markets.businessinsider.com/commodities/gold-price">Gold</a> was higher by 0.20% to $2,468.30 per ounce.</li><li>The 10-year Treasury yield dropped 5 basis points to 3.94%.</li><li><a target="_blank" href="https://markets.businessinsider.com/currencies/btc-usd">Bitcoin</a> dropped 1.96% to $60,499.</li></ul>

Stock market today: Stocks end higher as investors claw back most losses after big rout

I probably do not have to tell you that <a target="_blank" href="https://www.businessinsider.com/nvidia-stock-price-jensen-huang-alphabet-amazon-magnificent-seven-charts-2024-2">Nvidia has really blown up</a> over the past few years. The tech company is at the <a target="_blank" href="https://markets.businessinsider.com/news/stocks/nvidia-analyst-says-the-ai-party-isn-t-over-any-volatility-likely-to-be-short-lived-1033493476">forefront of the AI revolution</a> thanks to its advanced chips. It's seemingly leaps and bounds ahead of would-be competitors. If a company wants to make progress on artificial intelligence — as most of the tech sector now does — all roads run through Nvidia. This superdominant position helped the 31-year-old company book <a target="_blank" href="https://www.businessinsider.com/nvidia-earnings-call-live-updates-nvda-stock-2024-8">$30 billion in revenue</a> in the second quarter of the year, up by 122% from a year ago and some $2 billion more than Wall Street analysts were expecting. Investors, in turn, have been eating Nvidia up. Despite some <a target="_blank" href="https://www.businessinsider.com/nvidia-records-biggest-ever-single-day-market-value-loss-2024-9">recent turmoil</a>, shares of Nvidia are still up by more than 100% from this time in 2023 and by more than 2,000% over the past five years.Nvidia's quarterly earnings reports have turned into a referendum on the future of the whole stock market and even the US economy — a highly anticipated financial event like the jobs report or an inflation print. Nvidia's most recent earnings report prompted an <a target="_blank" href="https://www.businessinsider.com/nvidia-earnings-watch-party-bar-nyc-2024-8">unofficial watch party in New York City</a>. Its CEO, Jensen Huang, has achieved rock-star status, and his leather-jacket aesthetic is <a target="_blank" href="https://www.businessinsider.com/jensen-huang-wardrobe-black-leather-jackets-signature-look-2024-3">the subject of endless media fodder</a>. In the spring, the company hosted a four-day conference that observers informally dubbed "<a target="_blank" href="https://www.businessinsider.com/nvidia-humanoid-robots-jensen-huang-2024-3">AI Woodstock</a>.""When you see these types of disruptive technologies or companies out there, there are just both institutional and retail investors out there that really kind of fall in love with these stories," said Angelo Zino, a senior vice president at CFRA Research who covers tech.Even if you're not trying to pay attention, you sort of can't escape Nvidia mania. It's a significant chunk of the S&amp;P 500. Its moves are all over the news. Hell, even the CNBC host Jim Cramer named his dog after it."If people were going to be going crazy about a stock, wouldn't it be this one?" said Josh Brown, the CEO of Ritholtz Wealth Management and a market commentator. "Why wouldn't people be as enthusiastic as they are?"As much as Nvidia is a big deal, the fanfare is a little weird. It's the same kind of weird as that one coworker who talks about their cat too much or the friend who seems to still know an awful lot about their ex from a decade ago. It's giving <a target="_blank" href="https://www.businessinsider.com/welcome-to-elon-musks-fan-club-2022-12">Elon Musk fanboys</a>, <a target="_blank" href="https://www.businessinsider.com/taylor-swift-made-nfl-more-popular-in-america-us-2023-9">NFL Swifties</a>, <a target="_blank" href="https://www.businessinsider.com/inside-the-khive-kamala-harris-fiercely-loyal-group-online-fans-2021-5">the KHive</a> before Kamala Harris was at the top of the Democratic ticket.I'm not saying Nvidia is a cult, but the whole thing is a bit culty. A lot of investors could probably stand to calm down. Fandom is always a little strange, but this kind of attachment is even more peculiar when it's to a stock — as any half-decent financial advisor can tell you, one of the primary ways to get ahead in investing is to keep your emotions out of it.I recently reached out to Serious Wall Street People and random retail investors I found on the internet to talk about what they make of all the Nvidia hullabaloo. What was striking was how alike many of them sounded. Dan Ives, an analyst at Wedbush Securities, compared Nvidia to "Lebron in high school" and described Huang as the "godfather of AI" and a "grand-master chess player." Both he and Daniel Williams, a 22-year-old day trader from New York, emphasized their belief that the company is leading the fourth industrial revolution. "Nvidia is the quarterback," Williams said.In a market often framed as the retail day-trading Davids versus the institutional Wall Street Goliaths, Nvidia seems to be the one thing that can get David and Goliath to hold hands and skip through a meadow. Everybody likes it when the number goes up."There's a lot of academic research about why retail investors buy stock, and the No. 1 attention grabber is big returns," said Christopher Schwarz, a finance professor at the University of California Irvine's Paul Merage School of Business.Nvidia is a successful business that's achieved meme status. It makes a lot of money, and if you think this whole AI thing is going to work out and Nvidia's going to be able to keep competitors at bay, there's no reason to think it's anything short of a great investment. It's also volatile, and that roller-coaster thrill can add to the appeal for some traders. As Axios' Felix Salmon recently pointed out, <a target="_blank" href="https://www.axios.com/2024/09/03/nvidias-stock-price-gamblers">Nvidia can be an avenue for investors to scratch that gambling itch</a>. Jack, a moderator of a subreddit dedicated to Nvidia's stock, finds some of the memes around Nvidia irksome. He became one of the forum's referees after complaining that "mindless nonsense" there diluted its value as an information source. On big days for Nvidia, like when it releases its earnings reports, he focuses on keeping the subreddit from catching fire and leaves his holdings alone. Jack, a psychology student in Maine who asked to have his last name withheld to protect his privacy, is a pretty straightforward investor, but he's also 23, and he came up in the era of Wall Street Bets and GameStop. He knows that, businesswise, Nvidia is vastly different from GameStop — an advanced tech company at the forefront of a monumental computing shift is not the same as a video-game retailer in structural decline. But given the sheer number of wild bets made on the chipmaker, mostly through options trading, Jack can't help make the comparison, at least meme-wise.Nvidia "isn't, like, a joke," he said. "It's actually seriously one of the most innovative and quickly growing companies that the world has ever seen. And so I think that people are kind of treating it as if it's GameStop, where it has this incredible jump, and they're like, 'Oh my God, what is this going to turn into?' So there's a lot of fear around it, but in reality, the numbers go to show that it's quite sustainable, actually."The fervor Nvidia is generating isn't exactly like interest in other companies or investments, past and present. Some of this feels Tesla-esque — a group of investors who are dedicated to a company and CEO and who sometimes feverishly fight off detractors. Or it can look like Apple, beloved by many investors and actual customers, though Nvidia's recent rise has been faster and come later in the company's life. Some of the speculation around Nvidia seems a little crypto-y, as does the drumbeat of retail interest in it. If you squint, you can see a resemblance to Berkshire Hathaway and Warren Buffett, who together draw thousands of people to Omaha, Nebraska, every year and garner headlines every time they release financial results or holdings — or Buffett just says something. There's also a not-so-rosy comparison to Nvidia: <a target="_blank" href="https://www.businessinsider.com/jensen-huang-nvidia-history-demise-cisco-sun-microsystems-2024-6">Cisco</a>, a '90s tech darling that never recovered from the dot-com bubble's burst. Huang has <a target="_blank" href="https://affiliate.insider.com?h=a072bbf65eb3f1130fe3f2aad2d227bd8275bd3c00ca803fe01758def1b11cea&amp;postID=66d70d2c71b62b11ae91f987&amp;postSlug=nvidia-stock-price-earnings-party-investors-cult-investing-memes-2024-9&amp;site=bi&amp;u=https%3A%2F%2Fwww.theinformation.com%2Farticles%2Fno-longer-the-underdog-nvidia-now-has-a-lot-to-prove">reportedly</a> even expressed concerns about it and wants to make sure his company doesn't meet the same fate."Cisco is a great analogy to what's going on where just people just fawn over these things," Schwarz said.Brown argued that there really isn't anything you can compare Nvidia to at the moment. "I don't think there is any analogue throughout history," he said. "It's very much miraculous."Ted Mortonson, a managing director at the investment firm Baird, also emphasized the unprecedented nature of it all, especially given the amount of money Nvidia is bringing in. "They've defied the law of gravity from a model perspective," he said. "It's one of these companies you see in every couple of decades."I am not a stock analyst, nor do I pretend to be one. I have no idea where Nvidia is headed in the next six months or two years or five years, nor can I predict <a target="_blank" href="https://www.businessinsider.com/generative-ai-exaggeration-openai-nvidia-microsoft-chatgpt-jobs-investors-markets-2024-3">what will — or won't — happen with AI</a>. When it comes to Nvidia, though, that doesn't make me an outlier. Everyone — from the Reddit options traders betting each week on whether the stock will go up or down to the TV analysts cooly declaring that the robots will take everyone's jobs in five years — is a little bit guessing where this is headed. Being too emotionally tied to an Nvidia investment (or any investment, really) can prevent people from being clear-eyed about the downsides.There are some risks. A handful of big companies are spending very aggressively on big AI bets, and if they're not getting the returns on that investment capital they expected, that spending could slow."There are only a few companies that are making money off of generative AI," Mortonson said. If more companies don't start seeing some bang for their buck, he added, then at some point there may just be a pause in all the spending.Technologically, Nvidia is very far ahead of its competitors. It really is the only game in town in terms of the high-end chips it's producing. (The Department of Justice <a target="_blank" href="https://www.businessinsider.com/doj-subpoena-nvidia-antitrust-investigation-heats-up-report-2024-9">is also reportedly looking into this competition issue</a>.) But that probably won't last forever. "Nvidia, I think, has a great product," Schwarz said, "but I also think that people underestimate how all of Nvidia's biggest customers also make their own chips and have no interest in giving Nvidia all of their money forever."Having a superstar like Huang at the helm probably does, for a lot of people, calm some nerves. After all, Nvidia has been around since 1993, and he's been pretty prescient on all this."If Jensen's flying the plane, institutional investors feel very comfortable sitting in 3A, drinking their cabernet," Ives said.The obsession with Nvidia is not happening in a vacuum. The cultural vibe of the moment is <a target="_blank" href="https://www.businessinsider.com/gambling-young-men-sports-betting-crypto-meme-stock-market-addiction-2024-4">very much one of gambling</a>. For a lot of people, sports betting, crypto, meme stocks, and even regular stocks are ways to get the same kind of dopamine hit you'd expect in a casino. Nvidia is probably one of the safer gambling-adjacent bets an investor can make (though options can be a different story). Nobody thinks that the company will disappear overnight or that its valuation will plummet. But that doesn't mean that going all in on the mania around the company is without risks.One Redditor I talked to for this story wiped out his savings during the pandemic on risky investments and wound up having to dip into his 401(k) to recover. He subsequently dumped that money into Nvidia, which has paid off. He estimates that about 70% of his liquid assets are in the stock, though its recent declines have made him think twice about that allocation. "It still hurts to see the sharp drop," he told me. Still, he's bought in — a few weeks ago, he put a bunch of historical data on Nvidia into ChatGPT and asked it questions about various stock trends and highs and lows, and he felt reassured by the results. "Usually you pay for someone to provide you that data," he said. He said ChatGPT's capabilities reinforced his belief in his thesis around Nvidia and AI.There's no escaping Nvidia right now. It's Wall Street's Elvis or Zack Morris or Taylor Swift or Chappell Roan. The excitement around it is a little bit extra, and even if you want to avoid it, you can't.I recently accidentally poked the Nvidia fan bear by slightly making fun of one of the watch parties. People told me not to yuck their yum, said I was being a bummer, called me some names I will not repeat here. I recognize this was not my nicest moment, but you also have to admit that going to a bar to watch an earnings call is a little odd. But then on the day of Nvidia's earnings, I popped over to a friend's after work and noticed he had the TV on. I suggested he flip over to CNBC to see what had happened with Nvidia. I'm not a Nvidia true believer, but I'm apparently Nvidia curious.<a target="_blank" href="https://www.businessinsider.com/author/emily-stewart">Emily Stewart</a> is a senior correspondent at Business Insider, writing about business and the economy.

The cult of Nvidia is getting really weird

y ag<ul class="summary-list"><li>US stocks dropped Tuesday, starting off a new month lower after July's big rally.</li><li>Dow stocks Merck and Caterpillar rose after reporting strong quarterly earnings.</li></ul>US stocks dropped Tuesday, starting off a new month lower after July's big rally, as fresh earnings reports rolled in and the 10-year Treasury yield topped 4% again.Last month, the Dow Jones Industrial Average climbed 3.3%. Meanwhile, the Nasdaq Composite rose 4%, and the S&amp;P 500 gained 3.1%, as both notched their fifth consecutive monthly advance. Dow stocks Merck and Caterpillar rose after reporting quarterly earnings that topped forecasts. But fellow blue chip stock Pfizer was flat on mixed second-quarter results.Later on Tuesday, the Labor Department will release job openings data, and the Institute for Supply Management will publish its manufacturing activity index.Here's where US indexes stood shortly after the 9:30 a.m. ET opening bell on Tuesday:<ul><li><a href="https://markets.businessinsider.com/index/s&amp;p_500?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">S&amp;P 500</a>: 4,576.30, down 0.29% </li><li><a href="https://markets.businessinsider.com/index/dow_jones?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">Dow Jones Industrial Average</a>: 35,599.34, up 0.11% (39.81 points)</li><li><a href="https://markets.businessinsider.com/index/nasdaq_composite?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">Nasdaq Composite</a>: 14,253.79, down 0.64% </li></ul>Here's what else is happening this morning:<ul><li><a href="https://markets.businessinsider.com/news/stocks/stock-market-outlook-forecast-jeremy-siegel-wharton-recession-fed-economy-2023-8">Wharton professor Jeremy Siegel expects stocks to hit fresh highs</a>, and sees only a 30% chance of a recession.</li><li><a href="https://markets.businessinsider.com/news/currencies/crypto-boss-lavished-client-money-on-space-diamond-rolexes-ferrari-2023-8">The SEC charged a crypto entrepreneur with illegally raising over $1 billion</a> and spending client funds on luxury goods, including a billion-year-old diamond. </li><li><a href="https://markets.businessinsider.com/news/commodities/gas-lng-shipping-cost-over-200000-daily-tanker-supply-drops-2023-8">It costs traders more than $200,000 a day to ship LNG</a> in the Atlantic basin as the use of ships as floating storage facilities reduces tanker supplies. </li></ul>In commodities, bonds and crypto:<ul><li><a href="https://markets.businessinsider.com/commodities/oil-price?type=wti&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">West Texas Intermediate crude</a> oil dipped 0.7% to $81.24 per barrel. <a href="https://markets.businessinsider.com/commodities/oil-price?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">Brent crude</a>, oil's international benchmark, inched down 0.6% to $84.89.</li><li><a href="https://markets.businessinsider.com/commodities/gold-price?utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">Gold</a> slipped 1.2% to $1,984 per ounce.</li><li>The yield on the <a href="https://markets.businessinsider.com/rates/u-s--rates-10-years?utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">10-year Treasury</a> rose six basis points up to 4.017%.</li><li><a href="https://markets.businessinsider.com/currencies/btc-usd?utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">Bitcoin</a> declined 1.1% to $28,877.40.</li></ul>

US stocks fall to begin new month after big rally in July

<ul class="summary-list"><li>US stocks rose Friday after a mixed December jobs report. </li><li>Headline hiring was stronger than expected at 223,000, but wages slowed by more than anticipated. </li></ul>US stocks rose Friday after the government's <a href="https://www.businessinsider.com/december-jobs-report-labor-market-payrolls-unemployment-rate-2023-1">jobs report for December</a> showed wage growth for American workers slowed, with pay in focus as the Federal Reserve works to tamp down high inflation. The Labor Department said average hourly earnings rose 0.3% last month, less than the 0.4% consensus estimate from a Bloomberg survey of economists. Headline hiring of 223,000 was more robust than the 200,000 consensus estimate. The unemployment rate fell to 3.5% from 3.6%. While stocks advanced, the holiday-shortened week that kicked off trading in 2023 may still leave key equity gauges lower. The S&amp;P 500 and the Nasdaq Composite were looking at a fifth straight week of losses. Here's where US indexes stood at the 9:30 a.m. opening bell on Friday: <ul><li> <a href="https://markets.businessinsider.com/index/s&amp;p_500?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest">S&amp;P 500</a>: 3,834.60, up 0.70%</li></ul><ul><li><a href="https://markets.businessinsider.com/index/dow_jones?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest">Dow Jones Industrial Average</a>: 33,212.01, up 0.86% (281.93 points)</li></ul><ul><li><a href="https://markets.businessinsider.com/index/nasdaq_composite?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest">Nasdaq Composite</a>: 10,355.04, up 0.48%</li></ul>"A lower unemployment rate and weaker average hourly earnings growth is certainly going to get equity market bulls' attention," Seema Shah, chief global strategist at Principal Asset Management, in a note."Yet, with the unemployment rate back to the historic low of 3.5%, how realistic is it to expect wage growth to move meaningfully lower? The Fed will likely be skeptical," Shah added. "And so, with the record low unemployment rate indicating that there is still so much work ahead of them, Fed policy rates are set to rise above 5% within just a few months and a hard landing looks to be the most likely outcome this year." Among individual stocks, <a href="https://markets.businessinsider.com/stocks/tsla-stock">Tesla</a> fell after the electric vehicle maker cut its prices on its Model 3 and Model Y vehicles in China.Here's what else is happening today:<ul><li>The parent company of <a href="https://markets.businessinsider.com/news/currencies/crypto-genesis-owner-dcg-closes-wealth-management-unit-liqudity-crisis-2023-1">crypto lender Genesis</a> reportedly has closed its wealth management unit. </li><li><a href="https://markets.businessinsider.com/news/stocks/stock-market-outlook-sp500-leon-cooperman-billionaire-investor-bear-fed-2023-1">Billionaire investor Leon Cooperman</a> sees just a 5% chance the S&amp;P 500 pares back the losses it's logged since March 2022. </li><li><a href="https://markets.businessinsider.com/news/stocks/wwe-stock-world-wrestling-entertainment-vince-mcmahon-triple-h-2023-1">WWE shares soared</a> following a surprise comeback announcement by former CEO Vince McMahon to the wrestling group. </li></ul>In commodities, bonds, and crypto:<ul><li><a href="https://markets.businessinsider.com/commodities/oil-price?type=wtisource=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest">West Texas Intermediate crude</a> was little changed at $73.66 per barrel.<a href="https://markets.businessinsider.com/commodities/oil-price"> Brent crude,</a> the international benchmark, fell o.4% to $78.45. </li><li><a href="https://markets.businessinsider.com/commodities/gold-price?utm_medium=ingest&amp;utm_source=markets">Gold</a> rose 1.7% to $1,872.40 per ounce. </li><li>The<a href="https://markets.businessinsider.com/rates/u-s--rates-10-years"> 10-year Treasury yield</a> fell 16 basis points to 3.55%.</li><li><a href="https://markets.businessinsider.com/currencies/btc-usd">Bitcoin</a> rose 0.6% to $16,917.11.</li></ul>

US stocks rise after mixed December jobs report but weekly losses remain in sight

He was America's flashiest watch dealer. Then the feds caught up with him. 

Today is hump day, but any tuned-in market watcher will be ignoring camels and monitoring cars on this Wednesday. I'm senior reporter Phil Rosen, here to ring in a pivotal <a href="https://markets.businessinsider.com/news/stocks/tesla-stock-elon-musk-twitter-earnings-call-bull-rally-tech-2023-1">Tesla earnings</a> report with you this morning. While Elon Musk faces lawsuits in San Francisco for his infamous "funding secured" tweet, his <a href="https://markets.businessinsider.com/news/stocks/elon-musk-net-worth-skyrockets-nearly-11-billion-tesla-trial-2023-1">net worth has skyrocketed</a> nearly $11 billion this week. But his wealth — and the wealth of his shareholders — could whipsaw today, depending on what comes across in a particularly important earnings report.If this was forwarded to you, <a href="https://www.businessinsider.com/subscription/newsletter/10-things-opening-bell">sign up here</a>. Download Insider's app <a href="https://www.insider.com/app">here.</a><a href="https://markets.businessinsider.com/news/stocks/tesla-stock-elon-musk-twitter-earnings-call-bull-rally-tech-2023-1"></a>1. Everyone knows Tesla took a bludgeoning in 2022. But amid the bearishness (not to mention distractions from Twitter), Elon Musk's car maker is still a favorite on Wall Street. FactSet data shows that 64% of analysts give Tesla stock a "buy" or "overweight" rating. That's the <a href="https://markets.businessinsider.com/news/stocks/tesla-stock-buy-recommendation-q4-earnings-report-musk-tsla-canaccord-2023-1">highest proportion</a> since 2014. The median target price estimate for Tesla is $194 — which represents roughly a 25% upside from current levels.For Wedbush's Dan Ives, today <a href="https://markets.businessinsider.com/news/stocks/tesla-stock-elon-musk-twitter-earnings-call-bull-rally-tech-2023-1">marks one of the most important moments</a> in Tesla's history. The stock has plenty of upside for 2023, but Ives believes <a href="https://markets.businessinsider.com/news/stocks/tesla-stock-elon-musk-twitter-earnings-call-bull-rally-tech-2023-1">it's up to Musk</a> to soothe investor fears over a few lingering issues. In his words:"With all the worries about Musk's attention on Twitter, selling Tesla stock, [naming] a new CEO, and other noise <a href="https://markets.businessinsider.com/news/stocks/tesla-stock-elon-musk-twitter-earnings-call-bull-rally-tech-2023-1">created by this ongoing soap opera</a>… Elon needs to give investors comfort around this tight wire balancing act and reiterate his goals for the year and lay out the strategic vision despite a near-term dark macro."But some are more vocally bullish, and say now is the time to buy. George Gianarikas, analyst at Canaccord Genuity, said that investors should be <a href="https://markets.businessinsider.com/news/stocks/tesla-stock-buy-recommendation-q4-earnings-report-musk-tsla-canaccord-2023-1">snapping up shares</a> ahead of the earnings announcement as a lot of the bad news is already reflected in the stock price. "We think it had a lot to do with the demand situation impacting Tesla, first starting in China and later kind of leaking into other parts of the world, including the United States," he told Yahoo Finance. "People know that. A lot of that seems to be <a href="https://markets.businessinsider.com/news/stocks/tesla-stock-outlook-elon-musk-earnings-q4-gene-munster-deepwater-2023-1">priced into the stock</a>."In recent weeks, <a href="https://markets.businessinsider.com/news/stocks/tesla-stock-outlook-elon-musk-earnings-q4-gene-munster-deepwater-2023-1">the company has reduced prices</a> on its Model 3 and Model Y units in China, the US, and Europe. To Gianarikas, the impact the move has on gross margins will be the biggest question of the day.He also pointed out that prices have "come off the boil" for commodities used in building electric vehicles, which should be a boon for Tesla.Meanwhile, strategist Gene Munster advised <a href="https://markets.businessinsider.com/news/stocks/tesla-stock-outlook-elon-musk-earnings-q4-gene-munster-deepwater-2023-1">steering clear of Tesla</a>. He expects downbeat earnings to drag on the stock, even as shares climbed earlier in the week."Part of this 8% move is anticipation and optimism that the 30% decrease in price for the Model Y is going to have an outsized impact on volume," he said in a CNBC interview. "I expect that to be true — but there's one piece that we don't know, and this is about getting everyone on the same page. It's the profit."And that could mean a downbeat response from the market. Here's what analysts are expecting today, according to Refinitiv:<ul><li>Tesla's profit margins will fall from 25.8% to 25.6%</li><li>Tesla's earnings per share will climb from $0.95 to $1.01 quarter-on-quarter</li></ul>Have you bought or sold Tesla stock in 2023 yet? How much? Tweet me (<a href="https://twitter.com/philrosenn" target="_blank" rel="noopener">@philrosenn</a>) or email me (<a href="mailto:prosen@insider.com" target="_blank" rel="noopener">prosen@insider.com</a>) to let me know.In other news:<a href="https://markets.businessinsider.com/news/stocks/bear-market-stocks-on-thin-ice-improving-technicals-challenge-recession-2023-1"></a><div type="image" title="NYSE trader" height="1500" width="3000" msid="97314325" hostid="261" sizebytes="194504"></div>2. US stock futures fall early Wednesday, after Microsoft earnings delivered a bleak outlook that added to investors' worries about earnings growth. Meanwhile, Asian stocks rose to their highest level in seven months. <a href="https://markets.businessinsider.com/premarket">Here are the latest market moves.</a>3. On the docket: Tesla, Boeing, and Levi's, all <a href="https://markets.businessinsider.com/earnings-calendar">reporting</a>.4. Goldman Sachs shared which cities it believes will suffer a 2008-size crash in home values. This year is going to be rocky in the property sector — <a href="https://www.businessinsider.com/housing-market-crash-home-prices-cities-2008-mortgage-rates-goldman-2023-1">here's why the bank's strategists expect home prices to fall further than they originally thought.</a>5. The bear market in stocks is on "thin ice," according to Fundstrat's Mark Newton. According to Newton, the consensus view is getting easier and easier to challenge. <a href="https://markets.businessinsider.com/news/stocks/bear-market-stocks-on-thin-ice-improving-technicals-challenge-recession-2023-1">Newton said improving technical indicators suggest that a recession may not be that close after all.</a>6. A Washington DC townhouse with ties to Sam Bankman-Fried just went on the market for $3.28 million. It's one of many properties that the crypto founder could offload as authorities seize his assets. <a href="https://markets.businessinsider.com/news/currencies/sam-bankman-fried-ftx-washington-townhouse-fraud-federal-asset-seizure-2023-1">According to reports, the townhouse hosted political gatherings with vegan-heavy menus.</a>7. Binance processed nearly $350 million in bitcoin for a little-known crypto exchange with ties to illicit Russian funds. A Reuters report connected the digital asset giant to Hong Kong-based Bitzlato, which was shut down by US authorities last week. <a href="https://markets.businessinsider.com/news/currencies/binance-bitzlato-crypto-crime-russia-money-laundering-doj-2023-1">Bitzlato has been called a "money laundering engine."</a>8. Morningstar recommended buying these 10 cheap, high-quality stocks. Analysts said this batch of names pay a healthy dividend and can help offset losses during a time of slowing economic growth. <a href="https://www.businessinsider.com/best-dividend-stock-picks-to-buy-investing-strategy-recession-morningstar-2023-1">See the full list</a>.9. Top real estate books, according to a financially-independent investor. He says he's read over 30 real estate books — and <a href="https://newsletter.businessinsider.com/click/63d10121535ddb117e0a60fc/aHR0cHM6Ly93d3cuYnVzaW5lc3NpbnNpZGVyLmNvbS90b3AtcmVhbC1lc3RhdGUtYm9vay1hY2NvcmRpbmctdG8tZmluYW5jaWFsbHktaW5kZXBlbmRlbnQtaW52ZXN0b3Itd2VhbHRoLTIwMjMtMT9ucl9lbWFpbF9yZWZlcmVyPTEmdXRtX3NvdXJjZT1TYWlsdGhydSZ1dG1fbWVkaXVtPWVtYWlsJnV0bV9jb250ZW50PU9wZW5pbmdfYmVsbA/62667762063d6b9bef0cffb3B0cffc069" target="_blank" rel="noopener">his favorite one is from the 1950s. </a><a href="https://markets.businessinsider.com/news/stocks/jeremy-grantham-stock-market-outlook-crash-bubble-final-phase-warning-2023-1"></a><div type="image" title="SP 500 stock market insider chart" height="1113" width="1329" msid="97314327" hostid="261" sizebytes="39140"></div>10. The S&amp;P 500 could crash 50% this year, according to legendary investor Jeremy Grantham. He warned that the bubble is entering its "final phase," and investor confidence could be severely detained by <a href="https://markets.businessinsider.com/news/stocks/jeremy-grantham-stock-market-outlook-crash-bubble-final-phase-warning-2023-1">housing markets rolling over, declining corporate profits, and a recession.</a>Curated by Phil Rosen in Los Angeles. Feedback or tips? Tweet <a href="https://twitter.com/philrosenn" target="_blank" rel="noopener">@philrosenn</a> or email <a href="mailto:prosen@insider.com" target="_blank" rel="noopener">prosen@insider.com</a>Edited by Max Adams (<a href="https://twitter.com/maxradams?lang=en" target="_blank" rel="noopener">@maxradams</a>) in New York and Hallam Bullock (<a href="https://twitter.com/hallam_bullock" target="_blank" rel="noopener">@hallam_bullock</a>) in London.

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