Overnight Highlights: Fed Rate Decision, Fidelity Stablecoin Launch, Tesla's Bitcoin Holdings

Market Dynamics Overview

Several major events overnight impacted global financial markets. Here's a detailed breakdown:

• Fed Policy Update: The Federal Reserve decided to keep interest rates unchanged and upgraded its assessment of U.S. economic activity, stating it is expanding at a solid pace.
• Stock Market Milestone: The S&P 500 index surpassed the 7,000-point mark for the first time, signaling strong market momentum.
• New Stablecoin Launch: Fidelity announced plans to launch a new stablecoin on the Ethereum blockchain, a move that has drawn attention from the crypto space.
• Crypto Project Cash Growth: A well-known crypto project's cash reserves increased to $193 million, enhancing its financial stability.
• Inflation Insights: Fed Chair Jerome Powell stated that inflation exceeding expectations was largely due to tariffs rather than demand.
• Tesla's Bitcoin Position: Tesla made no adjustments to its Bitcoin holdings during the fourth quarter, indicating the company's long-term confidence in crypto assets.
• Tech Funding Update: CNBC reported that NVIDIA and Amazon might participate in OpenAI's latest funding round, further intensifying competition in the AI sector.