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“Crypto Week” got back on track after House GOP lawmakers convinced the holdouts in their party to help advance a series of crypto-friendly bills.

Crypto: Although bitcoin fell after the president signed the GENIUS Act into law, ether rose to its highest price in six months today, while enthusiasm for the new legislation pushed total crypto assets above $4 trillion.

CITE: https://tinyurl.com/2h47urt5

What’s up stocks

• Talen Energy soared 24.48% on the news that the independent energy producer is acquiring two new power plants.
• Interactive Brokers surged 7.77% after the broker increased the number of customer accounts by 32% last quarter as traders played market volatility.
• Speaking of trading, Charles Schwab gained 2.87% after opening more than 1 million new brokerage accounts last quarter gave it a 23% boost in trading revenue.
• Burberry popped 4.42% thanks to a turnaround in the luxury goods maker’s business, including a 4% increase in American sales last quarter.
• Quantumscape continued to climb yet again, rising another 7.65% as investors pour money into the battery maker.
• Invesco jumped 15.28% on reports that the asset manager is asking shareholders of its popular QQQ fund to let it revamp its fund structure to increase fee revenue.
• Crypto companies continued to have a great week as key legislation passed its final barrier in Congress. Coinbase climbed 2.2%, Robinhood Markets rose 4.07%, and Galaxy Digital gained 4.19%.

What’s down stocks

• Netflix fell 5.1% after the streaming giant reported a strong quarter but warned that its operating margin will take a hit in the second half of the year.
• Sarepta Therapeutics plunged 35.94% after the biotech reported a third patient death during its Phase 1 study of its new gene therapy.
• American Express sank 2.35% despite a strong quarter of spending among cardholders that helped the credit card company notch record quarterly revenue.
• 3M also fell 3.65% in spite of beating Wall Street’s forecasts and raising its earnings guidance.

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Visualize: How private equity tangled banks in a web of debt, from the Financial Times.

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