🇺🇸 America is profitable

Good morning investors! Bitcoin went on a crazy run yesterday hitting new highs with the stock market going back a little.

Today we cover:

• US economy doing better than expected.

• Boeing in more trouble?

• Bitcoin hits $56,000.

Follow us on Twitter for more.

📊 Economy and News 

US economy to go higher than expected

The US economy is expected to have a great 2024.

Experts see it growing 2.2% this year after adjusting for inflation. That’s up from the 1.3% that was predicted in November last year.

Despite high rates, consumer spending and the job market continued to flourish. Now with the interest rate expected to come down, the economy might grow even more as more consumers will enter markets they have stayed away from, such as the real estate market.

We have seen inflation cooling down and while it might not hit the 2% target this year, experts see it declining in 2024. However, many Americans are still unhappy with the prices as average prices are still about 19% higher than they were when Biden took office.

Things might look great for the US, but the same cannot be said for other developed countries. Many European countries are in trouble and some are fighting recession.

The US economy is easily outperforming the world’s major advanced economies, defying forecasts of a recession. Some developing nations, such as India and China, however, are growing faster than the United States, but the IMF forecasts slower growth in both.

Global hits:

• Microsoft invests in Europe’s Mistral AI to expand beyond OpenAI.

• Google’s Gemini AI picture generator to relaunch in a ‘few weeks’ following mounting criticism of inaccurate images.

• FTC sues to block Kroger, Albertsons merger, arguing the deal would raise grocery prices and hurt workers.

📈 Stocks

S&P 500 5,069.53 (-0.38%)
DJIA 39,069.23 (-0.16%)
NASDAQ 17,933.33 (-0.024%)
BRENT CRUDE 82.55 (-0.01%)
* Prices as of Feb 27th, 12:20 AM UTC

Boeing is at fault, finds report

Despite Boeing’s claims of its commitment to safety, the report by a panel of industry experts said it did not find “objective evidence of a foundational commitment to safety that matched Boeing’s descriptions of that objective.”

Surprisingly, the report found that not all Boeing employees understand their role in safety. Moeover, some feared retaliation for raising safety-related concerns.

The report documented a “disconnect between Boeing’s senior management and other members of the organization on safety culture.”

Furthermore, it found that it is a norm for the company to revise its Safety Management System, which could lead to issues. Plus, employees had little understanding of the system.

Good to know: Amazon officially joins the Dow Jones Industrial Average, booting out Walgreens. Plus, Altice USA shares spike +36% on report Charter is considering acquisition.

🔐 Crypto

Bitcoin $56,607 (+6.56%)
Ethereum $3,283.93 (+4.26%)
Total market cap $2.09T (+5.22%)
* Prices as of Feb 27th, 12:20 AM UTC

Bitcoin crosses $56,000

The price of Bitcoin shot above the $56,000 level today after waking up from a week of tepid trading.

This is the first time the cryptocurrency has crossed the $56K mark since December 2021.

But why? Because yesterday was the settlement day for Bitcoin futures.

What’s next? Experts see the currency going up even more now that the halving event is just round the corner.

This helped other cryptocurrencies and crypto-related stocks surge as well with Ether hitting new highs and Microstrategy leaping +16%.

💵 Personal Finance

Do this to improve your credit score

We’ve been talking about credit scores for a few days now. Finally, it’s time to have a look at some proven ways to improve your credit score.

• Get some accounts under your name: You cannot have a credit score without accounts to your name, so start by opening new accounts. This trick can work even if you have a poor score since opening new accounts can potentially improve your credit score, but it depends on various factors. When you open a new account, it can increase your overall credit limit, which may lower your credit utilization ratio if you don't increase your spending. A lower credit utilization ratio can have a positive impact on your credit score.

  Additionally, opening a new account diversifies your credit mix, which can also be beneficial for your score. However, opening multiple new accounts within a short period can indicate higher risk to lenders and may temporarily lower your score.

• Make timely payments: The best way to boost your credit score is to make timely payments. Both VantageScore and FICO pay attention to this factor. We must mention that this includes all kinds of bills and not just your credit card bill. You need to be careful about everything from student loans to utilities.

  We suggest that you set up automatic payments and reminders to ensure you never miss out.

• Identify mistakes in your credit reports: This might come as a surprise to some but credit reports are known to contain errors. A good look at one could often be enough to boost your credit scores.

  All three major bureaus (Equifax, Experian, and TransUnion) offer reports that can typically be downloaded for free.

  Some common errors include closed accounts reported as open, incorrect current balances, double entries, etc. These errors can be corrected by disputing them with the agency that will investigate the matter and respond within 30 days.

  There are some more ways to improve credit scores, so look out for tomorrow’s eyes.

💰 Be a Better Investor

👩🏽‍⚖️ Legal Stuff
Nothing in this newsletter is financial advice. Always do your own research and think for yourself.

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