On Friday, the Winter Olympics kicked off as 2,900 athletes (and Snoop Dogg, for some reason) descended on Milan. This year’s games will feature a new winter sport for the first time since 2002: ski mountaineering, or “skimo,” a sport based on the traditional pre-chairlift practice of climbing up a mountain, hiking, and then skiing back down.
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The S&P 500, Nasdaq 100, and Russell 2000 all climbed higher on Friday as the AI trade was back on. Every sector moved higher except for consumer discretionary and communications. Tech was by far the best performer, climbing 4%, and crypto rebounded from its recent sell-off. Also, an arbitrary collection of 30 stocks closed above 50,000 for the first time ever.
