Stocks closed higher on strong earnings and economic data, Bitcoin reached all-time high.

From Nasdaq

January 21, 2025 08:02:00 AM:

Wall Street was closed on Monday for Martin Luther King Jr. Day. Bitcoin reached a new all-time high on Monday. U.S. stocks closed higher on Friday due to strong Q4 earnings and economic data, with the Nasdaq Composite, the Dow, and the S&P 500 all ending in positive territory.

The Dow Jones Industrial Average rose 0.8%, while the Nasdaq Composite advanced 1.5% and the S&P 500 gained 1%. The fear-gauge CBOE Volatility Index decreased, with 24 new 52-week highs on the S&P 500 and 66 new highs on the Nasdaq Composite.

Bitcoin hit a new all-time high of $109,000 on Monday, driven by the launch of meme coins $TRUMP and $MELANIA. Shares of Coinbase Global, Inc. rose 4.9% on optimism regarding Trump’s pro-crypto policies.

Independent Bank Corp. reported Q4 adjusted earnings above estimates, leading to a 4.9% rise in stock price. Schlumberger Limited also beat earnings estimates, with a 6.1% increase in share price.

The U.S. housing market in December 2024 showed mixed trends, with growth in housing starts but a decline in building permits. The overall market reflects a mix of recovery and challenges heading into 2025.

Read more at Nasdaq: Stock Market News for Jan 21, 2025