The Nasdaq 100 halts its five-day slump as Bitcoin rallies – US Market Wrap

Stocks rose in the last stretch of a tense week on Wall Street, boosted by positive economic data, with traders analyzing the prospects for bonds following a bout of turbulence.
Equities extended their August gains as US economic activity expanded at the quickest rate in more than four years. The Dow Jones Industrial Average rose 1%. The Nasdaq 100 reversed a five-day decline in the run-up to Nvidia’s earnings on Wednesday. Bitcoin climbed to roughly $77,000. Treasuries saw minor losses. Oil made a weekly rise.
Investors are examining the consequences of a recent jump in bond yields, which was spurred by concerns about inflation and spendthrift governments, leading the US to act to lower long-term borrowing costs. They are now waiting for Treasury Secretary Scott Bessent’s promised fresh initiative on fiscal consolidation.
According to persons familiar with the matter, Nvidia has agreed to pay $6 billion to license Poolside’s AI models and will make job offers to more than 100 staff.