Markets Mixed as Oil Prices Rise

The markets finished mixed on Tuesday, with the Dow Jones Industrial Average adding 64 points, or 0.2% and the S&P 500 and Nasdaq falling 0.06% and 0.34%, respectively. The Dow finished at 31,522, another record closing high.

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Bitcoin breaks $50,000. Bitcoin’s price rose to more than $50,000 for a short time early Tuesday morning. The cryptocurrency has had a volatile ride with mixed market sentiments of both bullish and speculative investors. But more companies investing or accepting the currency may add to its legitimacy.

Recently, Tesla (ticker: TSLA) purchased $1.5 billion in bitcoin, Bank of New York Mellon ( BK) announced it will service the digital currency and Mastercard ( MA) also said it will support bitcoin on its network.

Marcus Invest debut. Goldman Sachs ( GS), the investment bank largely known for its wealth management services targeting high net worth individuals, has launched its automated digital investment platform, Marcus Invest, catered to the average investor.

This robo advising service manages the investment portfolio based off your risk tolerance and investing goals through stock and bond exchange traded funds. The service also offers joint and individual investment accounts and various individual retirement accounts. The account minimum is $1,000 and has an annual advisory fee of 0.35%.

Energy boost. Crude oil prices advanced on Tuesday as demand rose from harsh winter weather, particularly in Texas where temperatures reached new lows accompanied by power outages. The winter storm hit the state’s oil production as oil refineries were forced to shut down. This caused worries about the shorter- term supply of oil reserves. Oil markets were up Tuesday, rising more than 1% on the day.

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Markets Mixed as Oil Prices Rise originally appeared on usnews.com

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