₿ Bitcoin Breaks $100K Again Amidst Market Rally
- NexxtGen Markets
- 5 days ago
- 4 min read
Stocks and Crypto Surge - The Dow Jones rose 254 points (+0.62%) to 41,368.45, the S&P 500 climbed 0.58% to 5,663.94, and the Nasdaq led the pack, up 1.07% to 17,928.14. Positive sentiment in tech powered broader market optimism.
Bitcoin surged back above $100K for the third time, following the market's momentum. The cryptocurrency saw a strong rally alongside rising tech stocks, reaffirming investor confidence in digital assets.
In after-hours trading, Palantir entered the top 10 of the most valuable U.S. tech companies, with Pinterest jumping 15% on a strong outlook. Affirm fell by 8% after soft guidance, while Lyft saw a 7% rise, boosted by a $750 million share buyback announcement.
Market Movers
QBTS (D-Wave Quantum): +51% to $10.42
DIS (Walt Disney): +3% to $105
TEVA (Teva Pharmaceuticals): +3% to $18.07
SOL (Solana): +1% to $161
News Highlights
U.K. Trade Deal Boosts Market Sentiment - Stocks climbed Thursday as news of a U.S.-U.K. trade deal outline sparked optimism. The S&P 500 and Dow gained around 0.6%, with the Nasdaq rising 1.1%. Traders cheered reduced trade tensions between the two countries, boosting investor sentiment.
Bank of England Cuts Rates - The Bank of England cut its base rate from 4.5% to 4.25% amid sluggish growth and trade uncertainty. This rate cut provides relief to homeowners, borrowers, and businesses, although savers may see lower returns. The pound climbed 0.3% post-announcement as markets closely watched future U.K.-U.S. trade developments.
Palantir Hits Milestone - Palantir's market cap reached $281 billion, pushing it past Salesforce into the top 10 most valuable U.S. tech companies. This surge is attributed to the growing demand for AI and defence contracts, including a $178 million deal with the U.S. Army. However, the stock is trading at high valuations, with a 520x trailing earnings ratio, reflecting strong future potential but limited current revenue generation.
Enbridge Prepares to Report
Enbridge is set to report its Q1 earnings, with analysts looking for updates on its 2025 EBITDA guidance and a potential annual return of 12%. The midstream giant is heavily investing in gas and liquids infrastructure, targeting steady growth through 2026. Its stable cash flow and dividend yield continue to attract investor attention.
Bitcoin Reclaims $100K
Bitcoin has reclaimed the $100,000 mark, now trading around $103K. The cryptocurrency has surged 48% since November, with market dominance climbing above 60%. Analysts are optimistic that institutional inflows and geopolitical developments, including President Trump’s U.K. trade deal hint, may drive further upward momentum.
Movers & Shakers
PINS (Pinterest): +1.90% to $27.86
AFRM (Affirm): +5.28% to $54.26
LYFT (Lyft): +3.26% to $13.00
Pinterest soared 15% in after-hours trading after beating Q1 revenue expectations and providing strong guidance for Q2. Affirm's shares fell 10% after its Q1 results missed expectations, despite a 36% rise in GMV. Lyft surged 7% after reporting a solid Q1, including a 16% increase in rides and strong growth in bookings.
What to Watch
Cathie Wood has resumed buying Nvidia, with the Ark Innovation ETF (ARKK) up 25% since February's low.
Russell 2000 saw a 1.9% surge, with industrials leading the charge. Airlines and manufacturing stocks like Delta and Rockwell rallied, bolstering hopes of an economic rebound despite ongoing recession concerns.
Key Data and Events Coming Up
Today at 12pm GMT – BoE Rate Decision: The Bank of England is expected to cut rates to 4.25%. Watch GBP pairs for movements.
1:30pm GMT – U.S. Jobless Claims (May 3): A key data point to watch for indications of labor market trends.
What to Expect:
Bitcoin continues its rally, surpassing the $100,000 mark, as tech stocks like Palantir, Pinterest, and Lyft outperform expectations. The U.K.-U.S. trade deal and the Bank of England's rate cut support market sentiment, while investors eagerly await the Fed's decision on interest rates and future trade policies. The crypto market, led by Bitcoin's dominance, shows strong bullish momentum, and key companies continue to shape the future of tech and healthcare industries.
📈 Join Us
If you’re ready to start your trading journey or refine your skills, NexxtGen Markets is here to help. Join Steve and the community to access high-quality insights, proven strategies, and ongoing mentorship that can make a difference in your trading success. https://bit.ly/nexxtgenmarkets
⚠️ Risk Warning
Trading and investing carry risks. You should seek professional advice before engaging in such activities. Leverage can amplify both gains and losses. Past performance is not indicative of future results. Full risk disclosure: http://nexxtgen.pro/risk
🧾 NexxtGen Markets partner with eToro and may receive a small commission for anyone joining eToro via our website or socials.
---
Comments