U.S. Stocks Surge to New Heights, Bitcoin Eyes Record

S&P 500 Shatters Records, Dow and Nasdaq Soar

Hold onto your hats, folks! U.S. stocks are on fire today as the S&P 500 just smashed through its all-time high, kicking off the day with a 0.3% surge to hit a mind-blowing 6,156.80. Just last month, on February 19, 2025, it peaked at 6,147.43, but that's old news now!

Meanwhile, the Dow Jones Industrial Average isn't playing around either, jumping 300 points right at the open. And over at the Nasdaq Composite, they're up 0.5%, aiming to close out the week with a bang.

Inflation Data Fuels the Rally

This wild rally is fueled by the latest inflation data drop. Investors are buzzing about core inflation ticking up a bit in May. The personal consumption expenditures price index, which the Federal Reserve watches like a hawk, nudged up 0.1% for the month.

That puts the annual U.S. inflation rate at a cool 2.3%. The core PCE inflation reading, minus the usual suspects like food and energy, clocked in at 0.2% for May and 2.7% over the last year. That's a smidge higher than what the eggheads predicted at 0.1% and 2.6%, respectively.

But hey, don't let that faze you—stocks are still riding high and looking to keep the party going. Easing tensions in the Middle East and some fresh tariff announcements have chilled out some market jitters.

Bitcoin Aims for New Peaks

And in the crypto world, Bitcoin (BTC) is itching to hit a new all-time high. It's flirting with the $107,000 mark after bouncing back big time this week.

Fed Watch: Will Rates Drop in July?

All eyes are on the Federal Reserve now, with folks getting more hopeful that they might slash interest rates at the July meeting. That could send stocks and crypto into even wilder territory!

Oh, and one more thing: the White House dropped a bombshell on Thursday, saying President Donald Trump's July deadlines for slapping tariffs on several countries? Not a big deal, they say.