Business COVID 19

Move over Bitcoin—SPAC mania has overtaken the markets

Good morning. U.S. futures are nudging higher ahead of today’s jobless-claims data dump. Why should investors care about something as mundane as jobs? Answer: because the U.S. labor market is a “long way” from healthy, says Fed Chairman Jerome Powell, and that weakness will hamstring the central bank’s monetary policy going forward. But never mind […]

Business COVID 19

Here’s what’s driving global stocks to new all-time highs

This is the web version of the Bull Sheet, Fortune’s no-BS daily newsletter on the markets. Sign up to receive it in your inbox here. Happy Friday, Bull Sheeters. It’s a risk-on day as investors seek to extend the weeklong rally. Broad-based gains in tech, autos and pharma are pushing global equities ever closer to an […]