Dow Rises 250 Points as Bitcoin Hits $100K After Trump’s Endorsement of U.K. Trade Agreement
On Thursday, the markets closed higher as trade tensions subsided following the announcement of a new trade agreement between Washington and London.
The Dow Jones Industrial Average increased by 254 points, or 0.62%, while the S&P 500 recorded a slight uptick of 0.58%. The Nasdaq outperformed with a 1.07% rise. Alphabet’s shares also gained ground as the company reported sustained search traffic, despite claims from an Apple executive about a dip in Safari search usage amid the growing use of AI.
Bitcoin (BTC) traded above the $100,000 mark for the first time since early February.
Trade deal ‘anticipated soon’
Investor sentiment shifted positively after U.S. President Donald Trump revealed that a trade deal with the United Kingdom could be finalized “in the coming weeks.” This agreement—the first since the Trump administration’s extensive tariffs on trading partners—has generated optimism that the period of high tariffs might be nearing its end.
Boeing’s stock jumped nearly 4% with news that the deal includes a $10 billion order for Boeing aircraft from London.
Trump also hinted at what he referred to as the “largest tax cuts in history,” predicting that the U.S. economy would “soar like a rocket ship.”
U.S. Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer are set to meet their Chinese counterparts in Switzerland this weekend to discuss trade and economic issues.
