US benchmark indices Dow Jones, S&P 500, and the NASDAQ Composite Index entered into the straight second week of gains. It comes after US President Donald Trump’s announcement that the curve of the Coronavirus has started to flatten in the US, and they have passed the peak.
- The benchmark Dow Jones (DJX) Index ended 704.81 points higher on Friday. It posted a single day’s rise of almost 3%.
- The broader S&P 500 SPX finished the day with a 2.68% increase.
- The technology-dominated NASDAQ Composite Index posted a gain of 117.78 points or a 1.38% increase.
Wall Street investors loved the fact that the US economy may restart pretty soon. Some of the US states are about to announce dates as to the lifting of the lockdown restrictions.
Stocks that made the headlines on Wall Street on Friday
The biggest gainers in Dow Jones DJI were Boeing and Chevron. The aircraft manufacturing company, Boeing, rose 14.72% on Friday. Exxon Mobil notched up by a decent 10.4%. The biggest loser in the Dow was United Health, which posted a decline of 2.64%.
The most actively traded stocks in the S&P 500 SPX on Friday were General Electric and Gilead.
GE posted gains of 9.62%, while Gilead rose by 9.73%.
In the NASDAQ Composite Index, Taronis Tech and Akorn were the most actively traded stocks. Computer chip manufacturer AMD lost 0.56% on Friday.
Bitcoin’s journey past the $7,100 mark
The day’s range for BTCUSD was $7,028.23 — $7,133.86. The optimism in the equity markets was strongly reflected in the crypto markets as well.
Most of the major cryptocurrencies, such as Bitcoin BTC, Ethereum ETH, and Ripple XRP, went uphill on Friday. It is an excellent sign that investors are regaining trust in the Financial markets.
Here’s the hourly chart for BTCUSD:
BTCUSD Chart Published on TradingView.com
Bitcoin increased slowly but steadily on Friday. It carried on its gains even in the wee hours of Saturday. It will be an exciting weekend for the stock markets as well as the crypto markets.
