Bets on ‘Trump Put’ Send Stocks, Bitcoin Higher: Markets Wrap
- Bitcoin approaches $100,000, Treasuries trade in narrow range
- Dollar notches an eight-week winning streak, longest of year
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Beneficiaries of the incoming administration’s looser regulation and business-friendly stance put forth strong showings this week. Stocks gained while Bitcoin crushed doubters and the dollar extended gains into an eighth week, the currency’s longest run of the year.
Blue chips and small caps led Friday’s equities advance as this year’s big tech winners struggled to gain ground. The S&P 500 rose 0.3% while an equal-weighted version of the gauge — where Walgreens Boots Alliance Inc. has the same influence as Nvidia Corp. — climbed 0.8%, on track for an all-time closing high.