- U.S. equities opened higher, with the S&P 500 up 0.2% and the Nasdaq gaining 0.4%, extending a rally driven by strong tech performances and favorable inflation data.
- Mega-cap tech stocks like Apple, Nvidia, and Meta Platforms led gains, while Coinbase Global surged after its inclusion in the S&P 500.
- Treasury yields held steady at 4.45%, and the dollar index dipped slightly as risk appetite improved.
Tech and Crypto Drive Early Gains
U.S. stocks opened higher on Thursday, building on Wednesday’s rally as investors cheered encouraging inflation figures and another strong showing from technology heavyweights. The S&P 500 rose 0.2%, while the Nasdaq Composite climbed 0.4%, with both indices now in positive territory for the year.
Leading the charge were mega-cap tech stocks, including Apple, Nvidia, Amazon, and Meta Platforms, which have been key drivers of recent market momentum. Crypto-related equities also contributed, with Coinbase Global jumping after its addition to the S&P 500—a milestone for the digital asset sector. Bitcoin’s recent rebound further bolstered sentiment.
Inflation Data Supports Risk Appetite
The market’s upbeat tone follows fresh inflation data that reinforced hopes of a stabilizing economic environment. With the 10-year Treasury yield steady at 4.45%, investors appear cautiously optimistic that the Federal Reserve may not need to tighten policy further. The dollar index edged down 0.2%, reflecting a slight shift away from safe-haven assets.
“Tech continues to lead, but the breadth of participation is improving,” said one trader, who noted that even traditionally defensive sectors showed modest gains. Oil prices extended their recovery from April lows, adding to the risk-on mood.
What’s Next?
While short-term momentum looks favorable, analysts caution that geopolitical risks and Fed policy remain wild cards. For now, however, the combination of resilient tech earnings, a rebounding crypto market, and stable inflation has given equities a clear tailwind.