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Dow tops 40,000 for the first time: Will the U.S. market rally march on?
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US Inflation Expectations Ease Concerns, Tech Stocks Surge

Last Friday, US stocks rebounded as the University of Michigan's inflation expectations report eased concerns. $Nasdaq Composite Index (.IXIC.US)$ rose over 1%, and the semiconductor index surged nearly 2%, both hitting record highs. $Dow Jones Industrial Average (.DJI.US)$ slightly increased. For the week, $S&P 500 Index (.SPX.US)$ barely rose, and the Nasdaq extended its gains for the fifth consecutive week. The Dow, however, ended its five-week winning streak, marking its largest weekly decline since last year’s banking crisis. $Tesla (TSLA.US)$ rebounded over 3%. $NVIDIA (NVDA.US)$ hit another all-time high, rising 2.6% and up 15% for the week. Cryptocurrency stocks soared, with $Coinbase (COIN.US)$ up 8.6%. $GameStop (GME.US)$ surged over 20% after hours.

Following the release of consumer inflation expectations, the yield on the 10-year US Treasury fell, while the 2-year yield pulled back from its two-week high but rose over 10 basis points for the week, marking its biggest weekly gain in six weeks. The US dollar index accelerated its decline from a one-week high, but still achieved its largest weekly gain in one and a half months.

In a hawkish week for the Federal Reserve, gold, copper, and oil all fell. Oil prices hit a three-month low before rebounding, ending the week down over 2%. New York gold futures fell for the fourth consecutive day, dropping over 3% for the week, marking the largest weekly decline in eight months. London copper fell for the fourth day in a row, down over 3% for the week, while nickel rebounded but still ended the week down nearly 4%.

Bitcoin surged over $2000 during the day, climbing back above $69,000, while Ethereum fell nearly 7% at one point, distancing itself from a two-month high but still up over 20% for the week.
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