Episode 94: Fresh All-Time Highs for S&P 500 on Friday
The S&P 500 and Dow Jones Industrial Average hit fresh all-time highs on Friday as both indexes capped off modest gains for the week. Shares of Disney jumped 1% after it reported blowout fiscal third-quarter earnings, helping to push the Dow to a new record. The media giant crushed Wall Street expectations on Disney+ subscriber growth and overall revenue and earnings.
Private equity is pouring billions into renewable energy assets. It's what LPs want, it's what society demands — and it's what the world needs. But the classic private equity dilemma has surfaced: too much money chasing too few deals, writes Axios' Kate Marino. Private equity raised $52 billion to invest in renewable energy in 2020, a record — and this year is on pace to top that, according to Preqin.
Reddit, the San Francisco-based online bulletin board and forum, has raised $410 million in Series F funding at a valuation of more than $10 billion led by Fidelity, with existing investors also participating. It expects to raise up to $700 million. Reddit raised $250 million at a $6 billion valuation just six months ago.
Bitcoin flew above $47,000 Friday afternoon to round off a week of optimism in the crypto markets following a bearish few weeks and a recent battle in Congress over a provision in the infrastructure bill.
Market Close
Dow 30 35,515.38 +15.53 (+0.04%)
S&P 500 4,468.00 +7.17 (+0.16%)
Nasdaq 14,822.90 +6.64 (+0.04%)
IPO/SPAC
Turo, a San Francisco-based peer-to-peer car rental company, confidentially filed to go public. http://axios.link/FVzC
LATAM
Protera, a Chilean food tech, raised a $10M Series A funding round led by Sofinnova Partners. Bimbo, one of the world’s leading food producers, also contributed to the round alongside ICL Planet. Protera uses next-generation ingredient development to make safe, sustainable, and affordable protein-based food ingredients to address the world’s ethical, environmental, and consumer challenges.