Nasdaq soars 6% for the week as Bitcoin eyes $100k retest
Stocks ended the week on a strong note, with the S&P 500 and Nasdaq Composite posting solid gains despite ongoing uncertainty around global trade.
The S&P 500 gained 0.5% to close the week, while the Nasdaq added 0.9%. However, the Dow Jones Industrial Average lagged behind other indices, recording a small 47-point, or 0.1%, decline.
Google’s parent company, Alphabet, appeared to have boosted investor confidence after topping first-quarter earnings estimates. Notably, revenue of $90.23 billion and earnings per share of $2.81 beat estimates of $89.12 billion and $2.01 per share, respectively.
Tesla surged nearly 10% as investors seemed to turn bullish after CEO Elon Musk said he would step away from his DOGE role at the U.S. government. The Department of Transportation also released new self-driving car rules that favor Tesla.
A solid week
The S&P 500 climbed more than 4% on the week, and the Nasdaq soared over 6%. The Dow, again, lagged its rival indices but still finished 2% higher for the week. Bitoin (BTC) recorded its best week since November, as it looks poised to retest the $100,000 level in the coming days.
Investors have been navigating volatile headlines on trade all week. Conflicting messages from President Donald Trump and Chinese officials mean there is still little clarity over how trade wars will progress. Trump alternated between touting potential trade deals and doubling down on tariff threats.
