Can Bulls Rally S&P 500 to Unprecedented 5-Day Winning Streak?

U.S. Stocks Show Mixed Performance as S&P 500 Eyes Fifth Consecutive Gain

On Friday, U.S. stocks opened with mixed results. The S&P 500 inched up by 0.1%, nearing 5,920. This index has seen four straight days of growth and could extend its winning streak to five days.

the S&P 500 has climbed 4.5% this week, recovering from earlier losses. Simultaneously occurring,the dow Jones Industrial Average dipped by 70 points,while the Nasdaq Composite rose over 0.2%. The Dow is up 2.6% for the week, and the Nasdaq has surged 6%. A easing of U.S.-China trade tensions has lifted investor spirits. This week’s de-escalation measures have contributed to the positive sentiment.

Katie Stockton, founder of Fairlead Strategies, noted, “We’re experiencing a strong relief rally in a bear market cycle.” This rally follows President Trump’s trade agreements with the UK and China.

Bitcoin, the leading cryptocurrency, has also seen a boost. After dipping below $80 due to tariff tensions, it is indeed now aiming to hold above $103k. Analysts like Mike Novogratz of Galaxy believe the Trump administration has been beneficial for crypto.

Key events on Friday include the House Budget Committee’s debate on Trump’s tax bill and the University of Michigan’s consumer sentiment survey. The May data is crucial after April’s drop in sentiment due to inflation. With the consumer price index falling, the market will watch how consumers react to the tariff situation.