S&P 500 Rips Higher as Stocks Shrug Off ’Liberation Day’ Panic—Traders Cheer Another Win Streak

Wall Street’s rebound accelerates—because nothing fuels a rally like institutional amnesia. The S&P 500 claws back losses from last week’s knee-jerk selloff, inching closer to a record-breaking streak. Funny how ’risk-off’ turns into ’YOLO’ when the Fed whispers ’patience.’

Meanwhile, crypto markets yawn—bitcoin’s sideways grind proving once again that digital assets march to their own drum. Traders stuck in legacy markets might want to glance at the charts: decentralized finance doesn’t take holidays (or care about your macro narratives).

Another day, another victory lap for the bulls. Just don’t ask what’s propping up the rally—some questions are better left to earnings season.

S&P 500 and the DOW Jones show consistent gains

Both the S&P 500 and the DOW Jones have closed consistently higher every day since April 21. Easing trade tensions, with more dovish signals from the White House on tariffs, boosted confidence in the U.S. market.

Strong markets also boosted Bitcoin (BTC), which went from $87,333 to $97,382 during that same period. At the same time, traders ditched gold, which went from $3,400 per ounce on April 21 to its current level of $3,237.

Easing trade tensions helped the S&P 500 and the Nasdaq recover to their levels from April 2, or “Liberation Day”. That was when Donald Trump announced sweeping tariffs on major U.S. trading partners, triggering a sharp selloff in both the markets and the U.S. dollar.

Still, the indices remain below their all-time highs from November, which were driven by hopes for a pro-business Trump presidency. Notably, the Dow Jones, representing the 30 largest U.S. companies, has yet to fully recover to its April 2 level.