Former President Trump asserts his policies boosted cryptocurrency markets as broader equities hit record highs on geopolitical optimism.
Former President Donald Trump stated in a social media post that his administration’s actions saved the cryptocurrency sector, coinciding with a broader market rally. The Dow reached a record high, driven by hopes of de-escalation in Middle East tensions and strong corporate earnings, particularly in AI-related stocks.
The S&P 500 saw mixed forecasts, with Morgan Stanley setting a one-year target of 8,300 but warning of narrow market breadth and rising long-term rates. Goldman Sachs raised its year-end S&P 500 target to 8,000, citing 24% earnings growth, half attributed to AI infrastructure gains.
Snowflake surged 30% after reporting strong earnings and a $6 billion AWS AI chip deal, while Micron’s market cap hit $1 trillion, doubling in 48 days. Oil prices tumbled as traders reassessed valuation shifts amid the equity rally.