Nasdaq Soars 6% Weekly as Bitcoin Aims for $100K Recovery
The week wrapped up on a high note for stocks, with the S&P 500 and Nasdaq Composite making significant gains despite ongoing uncertainties related to global trade.
The S&P 500 advanced by 0.5% by the end of the week, while the Nasdaq rose by 0.9%. Conversely, the Dow Jones Industrial Average lagged, seeing a minor drop of 47 points, or 0.1%.
Investor confidence appeared to strengthen as Alphabet, Google’s parent company, exceeded first-quarter earnings expectations. It posted revenue of $90.23 billion and earnings per share of $2.81, surpassing projections of $89.12 billion and $2.01 per share.
Tesla saw nearly a 10% increase as investors grew optimistic following CEO Elon Musk’s announcement regarding his departure from his DOGE role with the U.S. government. Furthermore, the Department of Transportation revealed new self-driving car regulations favorable to Tesla.
A Strong Week
The S&P 500 rose over 4% throughout the week, and the Nasdaq increased by more than 6%. Although the Dow continued to trail its peers, it still ended the week 2% higher. Bitcoin (BTC) registered its best week since November, poised to test the $100,000 threshold in the days ahead.
Investors confronted a week filled with volatile news on trade, with mixed signals from President Donald Trump and Chinese officials intensifying the uncertainty surrounding trade relations. Trump oscillated between advocating for possible trade deals and reiterating threats of tariffs.
