S&P 500, Nasdaq Open Higher, Bitcoin Rally — WSJ

By Caitlin McCabe and David UbertiU.S. stocks may be headed for their best week since the November "Trump bump."U.S. stocks climbed Friday, pulled higher by big tech companies and chip firms. Cryptocurrency stocks also rose thanks to bitcoin's resurgence above $100,000.Both the Dow industrials and S&P 500 look set for their largest weekly gain since the presidential election, when a victorious Donald Trump's promise of tax cuts and deregulation sent stocks soaring. Through Thursday, the Dow was up 2.9% for the week, while the S&P 500 had risen 1.9%. The Nasdaq Composite was also higher, by 0.9%.Overseas, indexes in China crept higher after the country said its economy expanded 5% last year, following a barrage of stimulus. In Europe, the U.K. pound and bond yields weakened after disappointing retail-sales data there.In recent trading:U.S. stocks gained, with all three major indexes in the green. The tech-heavy Nasdaq Composite led the charge.The 10-year U.S. Treasury yield held roughly steady, after settling Thursday around 4.6%.Bitcoin's price topped $102,000, the highest level in more than a week, ahead of Trump's inauguration Monday.Most European stocks rose, with the U.K.'s FTSE 100 and Germany's Dax index on track to close at record highs.Write to Caitlin McCabe at [email protected] and David Uberti at [email protected] item is part of a Wall Street Journal live coverage event. The full stream can be found by searching P/WSJL (WSJ Live Coverage).