- S&P 500 eyes fifth straight gain after rebounding 4.5% in a week.
- Improved U.S.-China trade relations boost investor sentiment across markets.
- Bitcoin rallies toward $103,000 as crypto outlook strengthens.
U.S. equity markets started mixed on Friday, and the S&P 500 moved slightly up as investors wanted to add to five straight days of gains, which means they believe the market trend is strong.
The opening of the market saw the S&P 500 increase by 0.1%, trading just above 5,920. Since the benchmark index has won for four days in a row, five days in a row may soon become reality. Such a move could help reassure investors ahead of the weekend. In the last week, the S&P 500 climbed 4.5%, making up for all the losses seen so far this year and lifting trader spirits.
Investor Sentiment Strengthens on Global Trade Optimism
On the other hand, some important indexes performed differently from each other. In early trading, the Dow Jones Industrial Average fell by 70 points, but the Nasdaq Composite rose higher by more than 0.2%. From the start of last week, the Dow has edged up by 2.6%, and the Nasdaq has seen an increase of 6%.
The improved mood is partly due to the easing of issues between the U.S. and China in trade. A set of actions taken earlier this week to address the crisis has helped lift the mood of investors and reduced the pressure on markets.
We are experiencing a bear market cycle now, and this sudden rebound is a welcomed relief, said Katie Stockton of Fairlead Strategies.
President Trump’s recent announcements of trade deals with the United Kingdom and China gave the market an extra boost. All of this has improved the global trade situation, building confidence and fueling rises in risky assets.
Bitcoin Recovers Strongly, Targets $103,000 Resistance Level
The increase in development has benefited the cryptocurrency market too. After the latest tariff-caused market upsets, the price of Bitcoin (BTC) dropped to less than $80,000 but has recovered recently alongside the stock market. Bitcoin is now aiming to hold above $103,000, which is a sign of rising bullishness in the markets.
Those leading the crypto industry are recognizing the good opportunities available. Mike Novogratz, CEO of Galaxy, highlighted the fact that Trump’s policies have so far helped the crypto market because they support the industry’s growth.
During the day, investors will pay close attention to major happenings, such as the debate of President Trump’s tax bill in the House Budget Committee. Congress is expected to closely monitor the proposal, as it may influence both the results of companies and the feelings within the market.
People are also looking forward to the University of Michigan’s latest survey, as it may inform us on how Americans are responding to tougher economic times. Many investors are paying attention to the May survey, as its April reading showed that some have become more hesitant about inflation. Because the consumer price index is declining, the market is now looking at how people are responding to the tariff battle and to the overall state of the economy.
While the week draws to a close on Wall Street, both domestic and global aspects are closely watched by traders, as both may impact the market this week.
