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U.S. Market The Last Seven Days

Over the last 7 days, the market has risen 1.8%, driven by gains of 3.6% in the Information Technology sector. The market is up 26% over the last 12 months. As for the next few years, earnings are expected to grow by 13% per annum.

Source - https://simplywall.st/markets/us

Market Trends and Economic Outlook

The U.S. economy added 353,000 jobs in January, much better than expected

Job growth posted a surprisingly strong increase in January, demonstrating again that the U.S. labor market is solid and poised to support broader economic growth.

Nonfarm payrolls expanded by 353,000 for the month, much better than the Dow Jones estimate for 185,000, the Labor Department’s Bureau of Labor Statistics reported Friday. The unemployment rate held at 3.7%, against the estimate of 3.8%.

The Soft Landing Is Global, but It’s Cushiest in America

The world is starting 2024 on an optimistic economic note, as inflation fades globally and growth remains more resilient than many forecasters had expected. Yet one country stands out for its surprising strength: the United States.

After a sharp pop in prices rocked the world in 2021 and 2022 — fueled by supply chain breakdowns tied to the pandemic, then oil and food price spikes related to Russia’s invasion of Ukraine — many nations are now watching inflation recede. And that is happening without the painful recessions that many economists had expected as central banks raised interest rates to bring inflation under control.

Conferences

Future Digital Finance by WBR

April 02-03, 2024 | New Orleans

Future Digital Finance is more than a conference – it’s an experience. Discover how financial service organizations of all sizes are prioritizing digital strategies that enhance customer experience, while also creating opportunities for future innovation.

U.S. Fintech Symposium

June 04 - 06, 2024 | Chicago

U.S. Fintech Symposium – a conference reshaping the fintech landscape by hosting conversations about partnerships and growth strategies.

Communities - Let’s Grow Together🌱

NVIDIA

Wish you had access to mentorship with just your phone? NVIDIA provides just that, providing free online services to entrepreneurs and startups at any stage. They offer services including discounted technical workshops, unlimited access to developer forums, and startup portal access for team members. They also offer a dedicated relationship manager for premium members.

Online Geniuses

No business is run without the use of tools to make growing your website, e-commerce, or writing business plans easier. Online Geniuses gathers some of the best digital marketers, SEO consultants, and other experts to share their collective tools and ideas. Members of OG can get benefits ranging from discounts to other perks. Some of the most recognizable tools on this site include Jasper, the AI writing platform; Hopin, which allows you to host interactive webinars and meetings; and more.

Emerging Technology Review

OpenAI Valued at $80 Billion After Deal, NYT Reports

Microsoft-backed OpenAI has completed a deal that values the artificial intelligence company at $80 billion or more, the New York Times reported on Friday, citing people with knowledge of the deal.

The company would sell existing shares in a so-called tender offer led by venture firm Thrive Capital, the report said.

Under the deal, employees will be able to cash out their shares of the company rather than a traditional funding round which would raise money for the business, the report added.

OpenAI, Meta, and Other Tech Giants Sign Effort to Fight AI Election Interference

A group of 20 tech companies announced on Friday they have agreed to work together to prevent deceptive artificial intelligence content from interfering with elections across the globe this year.

The rapid growth of generative artificial intelligence (AI), which can create text, images, and video in seconds in response to prompts, has heightened fears that the new technology could be used to sway major elections this year, as more than half of the world's population is set to head to the polls.

Space

Could the solar system be teeming with interstellar objects? We'll soon find out

How do you tell the difference between a spaceship and a space rock?  

For astronomers like me, this question has proved tricky — so tricky that we were very nearly fooled when the first recorded interstellar object, named 'Oumuamua, was spotted passing through the inner solar system in 2017.

Astronomers once thought that any object moving at its own speed, with no visible means of propulsion, would have to be artificial technology. We knew how 'Oumuamua should behave if it were an interstellar space rock, or so we thought, but in every way, it acted the exact opposite. 

On This Day in Space History: Feb. 16, 1948: Gerard Kuiper discovers Uranus' moon Miranda

When Kuiper first spotted Miranda, he was at the McDonald Observatory in Texas, where he used the 82-inch Otto Struve Telescope. Two weeks later, he was able to confirm that the thing he saw was a moon orbiting Uranus. 

He chose to name the moon Miranda after a character in Shakespeare's "The Tempest," because the other four moons were also named after Shakespeare characters.

The Crypto State

Coin Base's Jump Highlights Crypto ETF Outperformance

Crypto-linked ETFs rose, highlighting their outperformance against bitcoin and other digital currencies, as shares of Coinbase Global Inc. (COIN) surged after the crypto exchange reported its first quarterly profit in three years.

Share of Coinbase, the largest cryptocurrency exchange platform shares jumped 16% in early afternoon trading after the company reported a 64% jump in fourth-quarter transaction revenue driven largely by the Securities and Exchange Commission’s highly anticipated approval of the first spot bitcoin ETFs, which were launched Jan. 12. Profit was $273.4 million, or $1.04 a share, compared with a loss of more than half a billion dollars in last year’s fourth quarter. Revenue topped analysts’ expectations.

Explaining Bitcoin's Rally: What Catapulted It Beyond $50,000

It's hard to believe, but after a remarkable surge to start 2024, Bitcoin (CRYPTO: BTC) is within striking distance of a new all-time high. Bitcoin climbed almost 25% in just a few days to reach a 52-week high of nearly $53,000 on Thursday.

While several factors are behind the recent jump, two in particular stand out. Here's why Bitcoin passing the $50,000 mark is just a sign of what's to come.

New Things For Startups and Innovators

Introducing the Startup Foodle

Foodle.nyc is an all-in-one app for anyone looking to discover and share the best dining experiences. From food trucks to fine dining, Foodle offers an engaging way to explore restaurants through short, user-generated videos. Foodle simplifies your search for amazing food by showcasing a restaurant's food offerings, atmosphere, and overall dining ambiance all in a quick video! Enjoy a curated and customizable feed filled with videos from foodie influencers and friends alike. You can easily connect with fellow foodies, keep track of the hottest restaurants, and effortlessly share your discoveries with friends. With Foodle, creating lists of restaurants you want to try is a breeze, ensuring you'll never forget the places you want to try. 

Download Foodle here and dive into the delicious world of NYC food, with new cities being added soon. Learn more about Foodle at foodle.nyc.

Remedy Product Studio

Remedy Product Studio partners with and invests in seed to series C startups to build and scale digital products. “Our mission is to go beyond ‘the build,' helping partners hit key milestones and fundraise faster. We take on business KPIs, participate in the entire agile development process, and invest throughout our multi-year partnerships. Our results: partners have raised $1B+, spent about 2.5x less on technical costs, and had 3 exits.”

Learn more on Remedy’s website or LinkedIn.

That’s a Wrap

Thank you for your continued loyalty. VedasLabs.io is honored to be delivering the latest news and insights right into your inbox. We have more exciting news to come, and we can’t share it with you!

What is VedasLabs.io again?

VedasLabs.io is a Web 3.0 funding and networking platform that incentivizes an active, global community of founders, mentors, and investors. We envision a world where investment, the exchange of knowledge, and collaboration between investors, issuers, and industry experts are secure, instant, and frictionless.