U.S. Stock Markets Rise Amid Strong Corporate Earnings
According to BlockBeats, on February 5, the three major U.S. stock indices closed higher on Tuesday, continuing the recovery trend from Monday's V-shaped reversal. Strong corporate earnings have bolstered investor optimism. By the close, the Dow Jones Industrial Average rose 0.3%, the S&P 500 increased by 0.72%, and the Nasdaq Composite gained 1.35%. Major tech stocks saw significant gains, with Apple, Tesla, and Google each rising over 2%.In contrast, the cryptocurrency market experienced a downturn. Bitcoin, which had been striving to maintain the $100,000 mark, faced a significant pullback, dropping to around $96,000 this morning. This decline was attributed to the lack of specific details on U.S. Bitcoin reserves in David Sacks' speech and escalating U.S.-China trade tensions, which increased market uncertainty. The downturn in Bitcoin led to a broader decline in altcoins. Ethereum fell 3.2% over the past 24 hours, currently priced at $2,718, while SOL decreased by 4.5% to $205. Bitcoin's market dominance has risen from a December low of 53% to 61%, reaching a four-year high, indicating a shift of funds from altcoins to Bitcoin.Investors are currently focused on the upcoming U.S. non-farm payroll data due on Friday, along with speeches from several Federal Reserve officials and the latest developments in the U.S.-China trade war. This week also marks a busy earnings season for U.S. stocks. Industry statistics reveal that out of 211 S&P 500 companies that have reported fourth-quarter earnings, 76.8% have exceeded analysts' expectations, further boosting investor confidence.