Dow Soars 846 Points to Historic Close as S&P and Nasdaq Surge Over 1.5%
Wall Street erupts in bullish frenzy as traditional indices hit unprecedented heights.
The Record Run
Blue-chip stocks catapulted to unprecedented levels, delivering one of the most explosive trading sessions in recent memory. The Dow's staggering 846-point climb isn't just a number—it's a statement about institutional momentum shifting into overdrive.
Broad-Based Rally
Both the S&P and Nasdaq mirrored the explosive energy, each punching well above 1.5% gains. This wasn't some narrow sector play—tech, finance, and industrials all caught the updraft in a display of market-wide conviction.
While traditional markets pop champagne over triple-digit gains, crypto natives smirk knowing their assets routinely deliver these percentages before breakfast—Wall Street's finally catching up to the volatility we've been trading for years.
Tech stocks surge as traders price in rate cuts
The minute Powell opened the door to rate cuts, the big tech names took off. Nvidia rose 1.7%, Meta Platforms gained over 2%, and both Alphabet and Amazon were up more than 3%. Tesla shares ran hardest, rallying 6% by the closing bell. Traders were pricing in a lower-rate environment and reloading on risk.
The U.S. dollar got slammed, falling 1%, as expectations of looser policy pressured the currency. The euro jumped to $1.1728, with a session high of $1.1742, its strongest point since July 28. The yen also strengthened as the dollar dipped to 146.77, down 1.08%.
Other currencies moved in lockstep; the British pound went up 0.86% to $1.3527, and the Australian dollar ROSE 1.14% to $0.6492.
Gold benefited too. Spot Gold increased 1.1% to $3,373.89 an ounce, while U.S. futures closed at $3,418.50, also 1.1% higher. With the dollar weakening, gold looked cheaper to non-dollar buyers.
Silver popped 2.2% to $39.01, platinum gained 0.7% to $1,362.90, and palladium edged up 1.4% to $1,125.53. Metals traders jumped in fast, betting on inflation protection.
Bitcoin jumps as institutions tighten grip
Bitcoin was part of the action too. It rose 4.10% Friday to $117,035, lifted by the broader risk rally and softening dollar. Just a week earlier, it had hit a new all-time high, trading close to $125,000, after breaking $124,496 on August 14.
But that was followed by a fast 10% correction to $111,658. Even so, that drop was smaller than earlier ones. In July, Bitcoin dropped 9% after peaking at $123,194. Earlier drawdowns this year were sharper, both January and May selloffs pushed losses past 30%.
Still, long-term bitcoin holders aren’t shaken. Some of them say dips like this are normal. “Drawdowns of 30% are a regular thing in a bull cycle,” said one longtime trader.
And historically, they’ve survived worse. Bitcoin has crashed 70% multiple times. But over the last three years, it’s up 455%. In five years, 913%. And in a decade, 51,600%.
Bitcoin’s performance during market chaos has been noticed. When President Donald TRUMP announced fresh tariffs in April, stocks tumbled. Bitcoin didn’t. It stayed over $80,000 most of the year and only slipped under $75,000 briefly. That resilience is why institutions are still piling in.
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