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Hey, here’s the real story for today.
Markets kept their footing thanks to strong Big Tech earnings, oil prices ripped higher on supply fears, and crypto holders felt the sting of a sharp mid-day reversal.
Big Tech Keeps Markets Afloat
The S&P 500 and Nasdaq stayed near record highs as Apple, Microsoft, and Alphabet posted stronger-than-expected quarterly results. Tech resilience offset worries over stretched valuations, giving bulls confidence that the sector is still carrying momentum.
Oil Powers Ahead
Crude oil jumped above $91 a barrel, its highest level in over a month, as supply concerns out of the Middle East collided with stronger global demand signals. Energy stocks surged in response, making oil the day’s biggest winner on Wall Street.
Crypto’s Wild Swing
Bitcoin briefly climbed past $66,000 before whipsawing lower, ending the day under $64,000. The volatility came as regulators hinted at fresh scrutiny of stablecoins, reminding traders that policy risk is never far away in crypto markets.
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Final Word
Today was a balancing act: Big Tech kept equities firm, oil stole the spotlight with a breakout rally, and crypto reminded everyone it’s still the wild west.