Alphabet, Amazon Announce Layoffs; Bitcoin ETF Approval Shakes Up Asset Management

Strategic cost-cutting measures by tech giants coincide with a predicted boost in internet stocks, while the asset management industry adjusts to the implications of a bitcoin ETF approval.

• Google-parent Alphabet and Amazon have announced layoffs as part of strategic moves to reduce costs and redirect capital toward key growth areas.
• Analysts predict a 'risk-on' attitude will boost internet stocks in 2024, with Alphabet and Amazon among the top picks.
• Health care stocks are back in favor, with three names predicted to lead the rally.
• The approval of a bitcoin ETF has significant implications for the asset management industry, with winners and losers analyzed by JPMorgan.
• Cathie Wood states that the approval of a bitcoin ETF makes her $1.5 million bull case for bitcoin more likely.

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