The S&P 500 ended Tuesday just short of a new closing record, while the tech-heavy Nasdaq Composite climbed to an all-time high as bitcoin staged an intraday comeback.
The blue-chip Dow Jones Industrial Average gained 68.61 points to 33,945.58 after posting its best day since March on Monday. The S&P 500 climbed 0.5% to end the day at 4,246.44 while Nasdaq erased earlier losses and climbed 0.8% to hit a fresh intraday record and finish at 14,253.27.
Bitcoin endured another wild session that saw it break below $30,000, only to later turn green on the day. At one point Tuesday, the world’s largest cryptocurrency wiped out all of its 2021 gains. Tesla, a bitcoin holder, climbed as the digital token bounced off its low. The electric vehicle company was up nearly 0.5% at the end of the day.
Major technology shares led the market rally Tuesday as Netflix climbed 2.3%, while Amazon, Apple and Microsoft all gained at least 1%. Facebook jumped 2%. Alphabet shares turned higher even after the European Commission opened a probe into Google’s advertising unit.