Optimism over tech earnings continues to lift US markets, while bitcoin’s recovery goes on, says Chris Beauchamp, Chief Market Analyst at online trading and investing platform IG.
US and Europe diverge in quiet trading
While the tech-driven surge has continued, we are once again seeing a divergence between the US and everyone else. Earnings from AMD and TSMC have reinforced the narrative on AI demand, but for Europe that offers less comfort given the smaller weighting of tech across the continent. Faced with ongoing supply disruptions, the US outlook continues to look rosier than that in Europe.
Bitcoin holds above $80K
Bitcoin’s recovery continues to fly under the radar, but this sustained bounce from the February lows marks a distinct change in tone for the cryptocurrency. Inflows are providing much-needed support, while the broader risk-on tone for markets has meant that bitcoin stands a much stronger chance of mounting a push back to $90K.
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