[FONT="]Stocks Push to All-Time Highs on More Evidence of Global Recovery[/FONT]
[FONT="]Stocks rise as soaring growth in China and strong data from the U.S. provides investors with reasons to believe in a surging post-pandemic recovery.[/FONT]
Stocks rose Friday as soaring growth in China provided investors with further reasons to believe in a surging post-pandemic recovery.
The Dow Jones Industrial Average jumped 91 points, or 0.27%, to 34,127, and the S&P 500 gained 0.23%. The Nasdaq rose 0.04% after trading lower for the early part of the session.
The Dow and S&P 500 set intraday all-time highs on Friday.
The Dow closed at a record high of 34,035 on Thursday and the S&P 500 reached an all-time high after U.S. retail sales and jobless claims and solid earnings reports pointed to a recovering domestic economy.
"Stellar jobless claims plus off the charts retail sales packs a positive one-two punch and sends strong signals that the economy is full steam ahead toward recovery," said Mike Loewengart, managing director of investment strategy at E*Trade. "While we haven’t necessarily seen the market move on strong economic beats or misses, it’s certainly a step in the right direction. And with earnings season off to a solid start, the case for continued bullishness should not be ignored," Loewengart added.
The yield on the 10-year U.S. Treasury edged higher Friday to 1.585%. The 10-year Treasury note sank Thursday to 1.531%, the lowest in four weeks.
In China, gross domestic product jumped a record 18.3% in the first quarter. The figures were magnified by comparisons with a year earlier when the economy was locked down because of the coronavirus outbreak.
Economists expect the brisk expansion in China, the world's second-largest economy, to moderate as manufacturing and consumer spending return to normal.
Jim Cramer: Tensions Between the U.S. and China Continue to Rise
Morgan Stanley (MS) posted much stronger-than-expected first-quarter earnings on the strength of record wealth management inflows and surging investment banking revenue. Wealth management inflows surged to a record $105 billion during the quarter.
The company also unveiled a $900 million loss linked to the collapse of Archegos Capital, with CEO James Gorman noting the cost of de-risking from the failed hedge fund was "money well spent."
Bitcoin tumbled Friday after Turkey's central bank issued a ban against the use of cryptocurrencies for payments in the country starting from the end of the month.
In a statement, the Central Bank of the Republic of Turkey said it will ban bitcoin and other non-fiat currencies from being used for several reasons, including a lack of "supervision mechanisms" and "central authority regulation" for crypto assets.
The benchmark cryptocurrency declined 2.15% to $61,658 after reaching all-time highs above $64,000 earlier this week ahead of crypto exchange platform Coinbase Global's (COIN) initial public offering.
Coinbase, meanwhile, rose 5.24% to $339.68. The funds of star manager Cathie Wood have purchased about $352 million worth of shares in Coinbase over two days.
Stocks rose Friday as soaring growth in China provided investors with further reasons to believe in a surging post-pandemic recovery.
T he Dow Jones Industrial Average jumped 91 points, or 0.27%, to 34,127, and the S&P 500 gained 0.23%. The Nasdaq rose 0.04% after trading lower for the early part of the session.
The Dow and S&P 500 set intraday all-time highs on Friday.
The Dow closed at a record high of 34,035 on Thursday and the S&P 500 reached an all-time high after U.S. retail sales and jobless claims and solid earnings reports pointed to a recovering domestic economy.
"Stellar jobless claims plus off the charts retail sales packs a positive one-two punch and sends strong signals that the economy is full steam ahead toward recovery," said Mike Loewengart, managing director of investment strategy at E*Trade. "While we haven’t necessarily seen the market move on strong economic beats or misses, it’s certainly a step in the right direction. And with earnings season off to a solid start, the case for continued bullishness should not be ignored," Loewengart added.
The yield on the 10-year U.S. Treasury edged higher Friday to 1.585%. The 10-year Treasury note sank Thursday to 1.531%, the lowest in four weeks.
In China, gross domestic product jumped a record 18.3% in the first quarter. The figures were magnified by comparisons with a year earlier when the economy was locked down because of the coronavirus outbreak.
Economists expect the brisk expansion in China, the world's second-largest economy, to moderate as manufacturing and consumer spending return to normal.
Jim Cramer: Tensions Between the U.S. and China Continue to Rise
Morgan Stanley (MS) posted much stronger-than-expected first-quarter earnings on the strength of record wealth management inflows and surging investment banking revenue. Wealth management inflows surged to a record $105 billion during the quarter.
The company also unveiled a $900 million loss linked to the collapse of Archegos Capital, with CEO James Gorman noting the cost of de-risking from the failed hedge fund was "money well spent."
Bitcoin tumbled Friday after Turkey's central bank issued a ban against the use of cryptocurrencies for payments in the country starting from the end of the month.
In a statement, the Central Bank of the Republic of Turkey said it will ban bitcoin and other non-fiat currencies from being used for several reasons, including a lack of "supervision mechanisms" and "central authority regulation" for crypto assets.
The benchmark cryptocurrency declined 2.15% to $61,658 after reaching all-time highs above $64,000 earlier this week ahead of crypto exchange platform Coinbase Global's (COIN) initial public offering.
Coinbase, meanwhile, rose 5.24% to $339.68. The funds of star manager Cathie Wood have purchased about $352 million worth of shares in Coinbase over two days.
[FONT="]Stocks rise as soaring growth in China and strong data from the U.S. provides investors with reasons to believe in a surging post-pandemic recovery.[/FONT]
Stocks rose Friday as soaring growth in China provided investors with further reasons to believe in a surging post-pandemic recovery.
The Dow Jones Industrial Average jumped 91 points, or 0.27%, to 34,127, and the S&P 500 gained 0.23%. The Nasdaq rose 0.04% after trading lower for the early part of the session.
The Dow and S&P 500 set intraday all-time highs on Friday.
The Dow closed at a record high of 34,035 on Thursday and the S&P 500 reached an all-time high after U.S. retail sales and jobless claims and solid earnings reports pointed to a recovering domestic economy.
"Stellar jobless claims plus off the charts retail sales packs a positive one-two punch and sends strong signals that the economy is full steam ahead toward recovery," said Mike Loewengart, managing director of investment strategy at E*Trade. "While we haven’t necessarily seen the market move on strong economic beats or misses, it’s certainly a step in the right direction. And with earnings season off to a solid start, the case for continued bullishness should not be ignored," Loewengart added.
The yield on the 10-year U.S. Treasury edged higher Friday to 1.585%. The 10-year Treasury note sank Thursday to 1.531%, the lowest in four weeks.
In China, gross domestic product jumped a record 18.3% in the first quarter. The figures were magnified by comparisons with a year earlier when the economy was locked down because of the coronavirus outbreak.
Economists expect the brisk expansion in China, the world's second-largest economy, to moderate as manufacturing and consumer spending return to normal.
Jim Cramer: Tensions Between the U.S. and China Continue to Rise
Morgan Stanley (MS) posted much stronger-than-expected first-quarter earnings on the strength of record wealth management inflows and surging investment banking revenue. Wealth management inflows surged to a record $105 billion during the quarter.
The company also unveiled a $900 million loss linked to the collapse of Archegos Capital, with CEO James Gorman noting the cost of de-risking from the failed hedge fund was "money well spent."
Bitcoin tumbled Friday after Turkey's central bank issued a ban against the use of cryptocurrencies for payments in the country starting from the end of the month.
In a statement, the Central Bank of the Republic of Turkey said it will ban bitcoin and other non-fiat currencies from being used for several reasons, including a lack of "supervision mechanisms" and "central authority regulation" for crypto assets.
The benchmark cryptocurrency declined 2.15% to $61,658 after reaching all-time highs above $64,000 earlier this week ahead of crypto exchange platform Coinbase Global's (COIN) initial public offering.
Coinbase, meanwhile, rose 5.24% to $339.68. The funds of star manager Cathie Wood have purchased about $352 million worth of shares in Coinbase over two days.
Stocks rose Friday as soaring growth in China provided investors with further reasons to believe in a surging post-pandemic recovery.
T he Dow Jones Industrial Average jumped 91 points, or 0.27%, to 34,127, and the S&P 500 gained 0.23%. The Nasdaq rose 0.04% after trading lower for the early part of the session.
The Dow and S&P 500 set intraday all-time highs on Friday.
The Dow closed at a record high of 34,035 on Thursday and the S&P 500 reached an all-time high after U.S. retail sales and jobless claims and solid earnings reports pointed to a recovering domestic economy.
"Stellar jobless claims plus off the charts retail sales packs a positive one-two punch and sends strong signals that the economy is full steam ahead toward recovery," said Mike Loewengart, managing director of investment strategy at E*Trade. "While we haven’t necessarily seen the market move on strong economic beats or misses, it’s certainly a step in the right direction. And with earnings season off to a solid start, the case for continued bullishness should not be ignored," Loewengart added.
The yield on the 10-year U.S. Treasury edged higher Friday to 1.585%. The 10-year Treasury note sank Thursday to 1.531%, the lowest in four weeks.
In China, gross domestic product jumped a record 18.3% in the first quarter. The figures were magnified by comparisons with a year earlier when the economy was locked down because of the coronavirus outbreak.
Economists expect the brisk expansion in China, the world's second-largest economy, to moderate as manufacturing and consumer spending return to normal.
Jim Cramer: Tensions Between the U.S. and China Continue to Rise
Morgan Stanley (MS) posted much stronger-than-expected first-quarter earnings on the strength of record wealth management inflows and surging investment banking revenue. Wealth management inflows surged to a record $105 billion during the quarter.
The company also unveiled a $900 million loss linked to the collapse of Archegos Capital, with CEO James Gorman noting the cost of de-risking from the failed hedge fund was "money well spent."
Bitcoin tumbled Friday after Turkey's central bank issued a ban against the use of cryptocurrencies for payments in the country starting from the end of the month.
In a statement, the Central Bank of the Republic of Turkey said it will ban bitcoin and other non-fiat currencies from being used for several reasons, including a lack of "supervision mechanisms" and "central authority regulation" for crypto assets.
The benchmark cryptocurrency declined 2.15% to $61,658 after reaching all-time highs above $64,000 earlier this week ahead of crypto exchange platform Coinbase Global's (COIN) initial public offering.
Coinbase, meanwhile, rose 5.24% to $339.68. The funds of star manager Cathie Wood have purchased about $352 million worth of shares in Coinbase over two days.
Holy sheep shit Batman Bitcoin is killing me and my bitcoin stocks come Monday morning is going to be a blood bath lord have mercy on my soul. So here I am 4 in the morning get up to pee look at my phone bitcoin shrunk big time so I deposited all into Heritage because coinbase fees into wallet suck so let it sit offshore and see if bitcoin comes back. Of course I have to roll it over at heritage wish me luck lol
