2 May 2024
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5 things you need to know today

Switzer Daily
23 March 2021

1. One year since the ASX reached its COVID-19 low

One year has passed since the ASX 200 fell to its lowest point of the COVID-19 crash at 4,546.00 points on March 23 last year. The index closed at 6,752.50 yesterday, a rise of 48.54% in a year. Technology has had the biggest gain of the sectors, with the All Technology Index moving 130.35% higher in the past year.

2. James Packer to follow Crown board on Blackstone's $8 billion offer

Crown Resorts major shareholder James Packer, who owns 36.8% of the company, has told the AFR's Chanticleer column that he is "following the Crown board" on its decision about Blackstone's $8 billion takeover bid announced yesterday. Crown's share price closed at $11.97 yesterday, above Blackstone's bid of $11.85 a share.

3. Fed chairman says cryptocurrencies are 'not really useful stores of value'

US Federal Reserve chairman Jerome Powell has described cryptocurrencies such as bitcoin as "highly volatile" and "not really useful stores of value" at a Bank for International Settlements event, adding that "it’s more a speculative asset that’s essentially a substitute for gold rather than for the dollar". Powell also said the Fed will "move with great care and transparency" in regards to the development of a central bank digital currency.

4. Get vaccinated, get free doughnuts

Krispy Kreme is offering free doughnuts for the rest of the year to anyone in the US who has received a COVID-19 vaccine. Everyone is able to claim one free glazed doughnut per day by bringing their vaccination card to any of the chain's outlets in the US, with no other purchase required.

5. US stocks rise on Monday

The three major indexes in the United States all closed higher on Monday. The Nasdaq was had the biggest gain with a rise of 162.31 points or 1.23% to 13,377.54, followed by the S&P 500 which closed up 27.49 points or 0.70% to 3,940.59, and the Dow Jones which rose 103.23 points or 0.32% to 32,731.20.

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