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Major indexes are in the green today but another big market story is the price of Bitcoin (CRYPTO: BTC). We’re tracking its price today in a live blog if you want to read more details, but Bitcoin is just below $99,000 and could break the $100,000 barrier for the first time today.
A few key events have helped drive its price higher:
Fox Business reporter Charles Gasparino is reporting that a Treasury pick has been made and an announcement is imminent.
Trump’s Treasury choice has a high chance of impacting markets. While Trump is concerned about how the market perceives his choice, he also wants someone who will push an economic agenda that includes tariffs which aren’t preferred by most large investors.
Right now betting markets still have Scott Bessent as the leading candidate with a 47% probability. Marc Rowan (28%), Kevin Warsh (19%), and Bill Hagerty (8%) round out the choices.
As of noon, the top performer in the S&P 500 is Super Micro Computer (Nasdaq: SMCI). The stock has been bouncing up and down in recent days as it submits a plan to avoid delisting.
Live coverage has ended. The full story is below.
As of 11:40 a.m. ET, the Nasdaq-100 is down about 48 points, or -.25%. Yet, the larger market is rallying today. Let’s take a look at how major indexes are performing today.
As you can see, the Dow Jones and Russell 2000 are significantly outperforming the Nasdaq. Let’s dig into why.
Following earnings, NVIDIA (Nasdaq: NVDA) shares are close to flat today, down .50%. Magnificent 7 stocks have generally seen their share prices fall today. Amazon (Nasdaq: AMZN) is down 2.29% while Alphabet (Nasdaq: GOOGL) is down 5.99%.
It’s not that NVIDIA’s performance was poor yesterday; the company beat on revenues and earnings and guided next quarter to sales above Wall Street’s expectations. However, the company beating earnings is now expected, so NVIDIA needs to deliver something truly beyond consensus to soar the next day.
We’re keeping a live blog tracking NVIDIA’s performance today and commenting on its earnings.
One area of strength in technology is software stocks. The segment is soaring after Snowflake (NYSE: SNOW) blew out earnings. Notable software stocks that are rising include Salesforce (NYSE: CRM), which is up 4.58%, and Workday (NYSE: DAY), up 2.71%.
Financial stocks are fueling gains in the Dow Jones and Russell 2000 today. Financials in the S&P 500 are up 1.36% as a group. That’s the best-performing sector today.
Standouts in the energy and utilities space include AI-adjacent stocks like Vistra (NYSE: VST) and Constellation Energy Group (NYSE: CEG).
Contact [email protected] for any questions or corrections.
Eric Bleeker has been investing for more than 20 years. He began his career working at Microsoft before joining Motley Fool, one of the largest publishers of financial research. In his 15 years at Motley Fool Eric served as the General Manager for Fool.com and led coverage in the Technology & Telecom sector. In addition, he was a featured columnist and has hosted dozens of investing seminars attended by more than a million total investors. Eric has more than 1,000 financial bylines to his name and has been featured in The Wall Street Journal, CNBC, Fox Business, and many other leading publications. He is currently focused on artificial intelligence investing and is a CFA Charterholoder.
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