Bitcoin Archives

How the stock market defied expectations again this year, by the numbers

NEW YORK (AP) — What a wonderful year 2024 has been for investors. U.S. stocks ripped higher and carried the S&P 500 to records as the economy kept growing and the Federal Reserve began cutting interest rates. The benchmark index posted its first back-to-back annual gains of more than 20% since 1998. The year featured many familiar winners, such as Big Tech, which got even bigger as their stock prices kept growing. But it wasn’t just Apple, Nvidia and the like. Bitcoin and gold surged and “Roaring Kitty” reappeared to briefly reignite the meme stock craze.… Continue Reading

Stock market today: Wall Street trims its stellar gains as Nvidia’s star dims again

NEW YORK (AP) — U.S. stock indexes trimmed some of their stellar gains for the year. The S&P 500 slipped 0.4% Tuesday, though it’s still near its all-time high set earlier this month. The Dow Jones Industrial Average dropped 267 points, and the Nasdaq composite lost 0.3% from its record set the day before. Nvidia, the superstar stock that’s been a big reason for Wall Street’s run to records this year, fell for its eighth loss in the last nine days. Treasury yields held relatively steady after sales at U.S. retailers strengthened by more than expected. Bitcoin set another record.… Continue Reading

Stock market today: Wall Street hangs around its records as bitcoin briefly pops above $100,000

NEW YORK (AP) — U.S. stocks slipped below their records in the runup to a big jobs report due on Friday. The S&P 500 edged down 0.2% Thursday after setting an all-time high for the 56th time this year the day before. The Dow Jones Industrial Average lost 0.6%, while the Nasdaq composite fell 0.2%. The crypto market had much more action, and bitcoin briefly burst to a record above $103,000 before falling back toward $99,000. It’s climbed dramatically since Election Day on hopes President-elect Donald Trump will be more friendly to crypto. Airline stocks were strong, while Treasury yields held relatively steady in the bond market.… Continue Reading

Bitcoin tops $100,000 as big rally sparked by Trump election win rolls on

NEW YORK (AP) — Bitcoin has topped the $100,000 mark as a massive rally in the world’s most popular cryptocurrency sparked by the election of Donald Trump rolls on. The milestone comes just hours after the President-elect signaled a lighter regulatory approach to the crypto industry with his choice of crypto advocate Paul Atkins to be the next chair the Securities and Exchange Commission. Bitcoin has soared to unprecedented heights since Trump won the election Nov. 5. The cryptocurrency has climbed dramatically from $69,374 on Election Day and rose as high as $101,512 Wednesday.… Continue Reading

Stock market today: Stocks gain as Wall Street closes out strong November

NEW YORK (AP) — Stocks are rising as Wall Street puts the finishing touches on one of its best months of the year. The S&P rose 0.7% while the Dow Jones Industrial Average was up 306 points, or 0.7%. The Nasdaq added 0.8%. Friday is an abbreviated trading day — stock markets close at 1 p.m. ET and the bond market closes an hour later. Investors are waiting to see how willing shoppers are to spend on gifts for the holidays. Black Friday unofficially kicks off the holiday shopping season, although retailers have been offering early deals for weeks. Macy’s rose 1.9% and Best Buy gained 2.8%.… Continue Reading

Stock market today: Wall Street gains ground as it notches a winning week and another Dow record

NEW YORK (AP) — Stocks closed higher on Wall Street, giving the market its fifth gain in a row and notching another record high for the Dow Jones Industrial Average. The S&P 500 rose 0.3% Friday. The Dow added 1%, and the Nasdaq composite tacked on 0.2%. Retailers had some of the biggest gains. Gap soared after reporting quarterly results that easily beat analysts’ estimates. EchoStar fell after DirecTV called off its purchase of that company’s Dish Network unit. European markets closed mostly higher and Asian markets ended mixed. Treasury yields held relatively steady in the bond market. Crude oil prices gained ground.… Continue Reading

Stock market today: Wall Street rises with Nvidia as bitcoin bursts above $99,000

NEW YORK (AP) — U.S. stocks climbed after market superstar Nvidia and another round of companies said they’re making even fatter profits than expected. The S&P 500 pulled 0.5% higher Thursday after flipping between modest gains and losses several times in the morning. The Dow Jones Industrial Average jumped 1.1%, and the Nasdaq composite edged up by less than 0.1%. Banks, smaller companies and other areas of the stock market that tend to do best when the economy is strong helped lead the way, while bitcoin briefly broke above $99,000. Crude oil, meanwhile, continued to rise. Treasury yields inched higher in the bond market.… Continue Reading

Stock market today: Wall Street drifts to a mixed finish after an inflation update

NEW YORK (AP) — U.S. stocks drifted to a mixed finish after the latest inflation update boosted hopes that more help for the economy will arrive next month from another cut to interest rates. The S&P 500 ended little changed Wednesday. The Dow Jones Industrial Average edged up 0.1%, and the Nasdaq composite slipped 0.3%. Treasury yields were also mixed after a report said the inflation that U.S. consumers felt last month was exactly as economists expected. That strengthened expectations that the Federal Reserve will cut interest rates for a third time this year in about a month and sent short-term Treasury yields lower.… Continue Reading

Stock market today: Wall Street rolls higher as bitcoin bursts above $87,000

NEW YORK (AP) — U.S. stocks are rising and adding to the gains made during their best week of the year. The S&P 500 added 0.2% in Monday morning trading, coming off last week’s spurt spurred by Donald Trump’s presidential victory and the Federal Reserve’s cut to interest rates. The Dow Jones Industrial Average jumped 400 points, and the Nasdaq composite slipped 0.1%. Elon Musk’s Tesla was the strongest single force pushing the S&P 500 higher. Bank stocks and other popular Trump trades also led the market, helping to offset drops for Nvidia and AbbVie. Bitcoin’s price topped $86,000 for the first time.… Continue Reading

Stocks and bitcoin jump after Trump’s victory. So do worries about inflation as Dow surges 1,500

LONDON (AP) — The price of bitcoin has hit a new high as investors bet that former President Donald Trump’s victory in the U.S. presidential election will be a boon for cryptocurrencies. Bitcoin jumped nearly 8% in early trading, climbing above $75,000 and smashing the previous record set in March. Other cryptocurrencies like ether also soared. So did shares of crypto-related companies like Coinbase. Trump has has pledged to make America “the crypto capital of the planet” and create a strategic reserve of bitcoin. Ahead of the election, he also launched a new venture to trade cryptocurrencies called World Liberty Financial.… Continue Reading