Stock Market Set to Hit 17 Year High as Bitcoin Soars

Global markets are poised to hit a 17 year milestone following optimism for economic recovery and a lifting of pandemic restrictions.

The Dow rose 190 points to 31,587 (+0.6%) to open on Tuesday. The S&P 500 Index saw a similar spike of 20.15 points, up to 3,951.25 (+0.5%), with the Nasdaq spiking to 13,874, a gain of 69.25 points (+0.5%).

The MSCI benchmark for emerging markets has risen for its 12th straight gain, with Bitcoin reaching a new milestone of $50,000 a coin. This comes on the heels of Tesla’s massive Bitcoin buy of $1.5 billion and statements from Mastercard and Bank of New York Mellon saying that they will make it easier for consumers to use Bitcoin.

The Brent Oil International Benchmark is up at a 13 year high today, beyond $63 a barrel. West Texas Intermediate is listing at $60 per barrel (+0.8%), while natural gas prices from NG00 climb as well (+6%).

This follows massive power outages and energy demands in Texas after a winter storm crippled much of the states infrastructure. The Electric Reliability Council of Texas currently estimates that approximately 2 million people are currently without power.

Gold commodities saw a slight decline this morning, down to $1,811 per ounce (-0.67%). Silver continues its march upward from future weeks, climbing to $27.52 per ounce (+0.68%), with platinum soaring this morning to $1,301.20 per ounce (+3.34%).

The US Dollar Index (DXY) fell slightly this morning, down to 90.32 (-0.16%). The British Sterling Pound is also down slightly this morning, trading for $1.39 per pound (-0.02%) with the Euro climbing slightly to trade for $1.21 (+0.03%). The Chinese Yuan is down, trading at $0.15 (-0.25%). The Japanese Yen is up this morning to 105.64 (+0.27%).

Foreign Markets followed suit with American markets, seeing a climb in nearly all major indexes. The London Stoxx 600 is up at 419.89 (+0.10%), with the London FTSE up at 6,769 (+0.19%). Hong Kong’s Hang Sang Index saw a sharp rise of 573.09 points, up to 30,747 (+1.9%). The Japanese Nikkei saw similar gains this morning, jumping to 30,468, up 383.60 points (+1.28%).


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