S&P 500, Nasdaq open higher to continue rally
First Bitcoin-linked ETF in US launched, rises 3.2% in debut
The S&P 500 and the Nasdaq opened higher in the US on Tuesday, poised to extend their winning streaks to a fifth consecutive day.
The S&P 500 was up 16 points, or 0.37%, to 4,503 at 9.33 a.m. EDT, while Tesla's stock price increased 0.45%.
The tech-heavy Nasdaq was up 39 points, or 0.26%, to 15,061 with Coinbase and Alibaba each adding more than 3%.
The Dow Jones rose 133 points, or 0.38%, to 35,390 despite the blue-chip index closing lower Monday, ending a three-day winning streak. Investment banking majors Goldman Sachs, Morgan Stanley, and JPMorgan were up around 0.4% apiece.
Despite ending the previous session higher, the VIX volatility index, known as the fear index, was down by 1.1% to 16.13.
The dollar index fell 0.3% to 93.70, while the yield on 10-year US Treasury notes rose 1.6% to 1.609%.
Oil prices were down for the second day in a row -- shedding 0.55%. International benchmark Brent crude was trading at $83.87 and US benchmark West Texas Intermediate was at $81.25.
Precious metals reversed course with gold rising 0.74% to $1,778 per ounce and silver adding 3.5% to $24.01.
After hitting $60,000 on Friday for the first time in six months since April 18, the price of Bitcoin was trading around $62,900, a 1.7% gain.
US-based ProShares, which provides specialized exchange-traded products, announced Monday that it plans to launch the much-anticipated first Bitcoin-linked exchange-traded fund (ETF) on the New York Stock Exchange on Tuesday. Its ticker is BITO.
BITO was up 3.2% at 9.47 a.m. EDT.
"BITO will offer investors an opportunity to gain exposure to bitcoin returns conveniently, through a brokerage account. BITO can be bought and sold like a stock and eliminates the need for an account at a cryptocurrency exchange and for a crypto wallet," the company said in a statement.
ETFs, which are similar to mutual funds, are types of investment funds that can be traded on stock exchanges, and they can hold assets such as stocks, bonds, currencies, and commodities.Anadolu Agency website contains only a portion of the news stories offered to subscribers in the AA News Broadcasting System (HAS), and in summarized form. Please contact us for subscription options.