Stock market today: Wall Street rolls higher as bitcoin bounces above $82,000

NEW YORK — U.S. stocks are adding to the gains made during their best week of the year. The S&P 500 was up 0.3% early Monday, coming off a 4.7% spurt last week spurred by Donald Trump’s presidential victory and a cut to interest rates by the Federal Reserve. The Dow Jones Industrial Average was up 261 points, and the Nasdaq composite was 0.4% higher. Tesla, whose leader, Elon Musk, has become a close ally of Trump’s, rose another 7%, adding to its gains since the election.

Shares of Trump Media & Technology Group rose 7.5% as Trump starts his transition back to the White House in earnest. In Europe at midday, Germany’s DAX rose 1.42%, Paris’s CAC 40 gained 1.24% and Britain’s FTSE 100 added 0.75%. Meanwhile, China’s inflation rate in October rose 0.3% year-on-year, according to the National Bureau of Statistics on Saturday, marking a slowdown from September’s 0.4% increase and dropping to its lowest level in four months.

On Friday, the S&P 500 rose 0.4% to 5,995.54, and had its biggest weekly gain since early November 2023. It briefly crossed above the 6,000 level for the first time. The Dow Jones Industrial Average climbed 0.6% Friday, while the Nasdaq composite added 0.1%.The yield on the 10-year Treasury slipped to 4.30% Friday from 4.33% late Thursday. But it’s still well above where it was in mid-September, when it was close to 3.60%.

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