U.S. Stocks Wrap Up a Rollercoaster Week: Bitcoin Soars to New Heights

Hold onto your hats, folks! U.S. stocks just closed out a wild week, with investors biting their nails over the upcoming U.S.-China trade talks in Switzerland. The tension is palpable, and it's got everyone on edge!

The Dow Jones Industrial Average took a hit, dropping 0.3%, while the Nasdaq Composite barely managed to squeak up by a measly 0.0043%. The S&P 500? It was all over the place, finishing down just 0.07% and hovering near the flatline. Talk about a nail-biter!

This comes hot on the heels of a preliminary U.S.-U.K. trade deal, but don't get too excited just yet. The market's still on edge, thanks to some wild tariff talk. President Trump threw everyone for a loop with his "80% Tariff on China" post on Truth Social. Sure, it's a step down from the current 145%, but it's still way above the sub-60% that everyone was hoping for earlier this week. Buckle up, it's gonna be a bumpy ride!

"Progress this week was encouraging, but we're still at the mercy of the news cycle," said Nationwide's Mark Hackett. "Get ready for more ups and downs until we start seeing some real results."

Bitcoin's Surge

While stocks were playing rollercoaster, Bitcoin (BTC) was shooting for the stars! It blasted past $104,000 on Friday morning, thanks to a flood of institutional money and some killer ETF performance. Spot Bitcoin ETFs just hit a new all-time high in cumulative flows, clocking in at a whopping $40.33 billion, according to Bloomberg. The king of crypto did give back a bit of its gains, settling around $103,000 by the time Wall Street called it a day. But hey, that's still one hell of a ride!

Over in other news, Wells Fargo dropped a bombshell: only 13 companies pulled their earnings guidance this season, way fewer than expected. They're calling it a "positive surprise." Companies like Ford, Delta, and Snap were among those yanking their forecasts. Who saw that coming?