The stock market rally continued its upward trend on Wednesday, with all major indexes hitting fresh highs driven by strong earnings from tech giants like Salesforce.com, Marvell Technology, and others. The Nasdaq composite led the charge, surging 1.3% to a record high as software stocks shone bright.
Bitcoin, meanwhile, reached new heights overnight, topping $100,000 for the first time since late November and surging as high as $103,844. Crypto-related stocks and ETFs were strong movers in premarket trading, including Coinbase and Microstrategy.
Nvidia stock broke above key resistance, regaining the 21-day moving average and a buy point, according to MarketSurge. The artificial intelligence leader is seen as a potential winner, with investors eagerly awaiting its next move.
Confluent, HubSpot, Snowflake, Roku, SharkNinja, Powell Industries, and Chipotle Mexican Grill are among other stocks that flashed buy signals. Meanwhile, the 10-year Treasury yield rose to 4.22%, while crude oil prices fell 2% to $68.54 a barrel.
Investors should be cautious of higher risk entries, but those who do take advantage of the market rally’s real winners stand to gain from the “heat” working in their favor. Staying engaged and monitoring watchlists can help identify setups and maximize gains.
Source: https://www.investors.com/market-trend/stock-market-today/dow-jones-bitcoin-jumps-on-powell-nvidia-ready-to-run