US Stocks Rebound, Dow Up Nearly 1%, Digital Currencies Surge Again, Gold Breaks Above 4600

For the week, the Dow fell 0.85%, the S&P 500 dropped 1.43%, and the Nasdaq declined 2.05%. Chip stocks were mixed on the day. Banks and gold stocks broadly rose, with Eldorado Gold up over 7%, and Goldman Sachs and Morgan Stanley each gaining more than 3%. The 10-year Treasury yield edged up 2.99 basis points. Bitcoin extended its strength, rising 6.7%, and posted a weekly gain of over 24%, its largest weekly increase since March 2023. Spot gold surged 2.2%.