U.S. Stock Indexes, Bitcoin Gain Ahead of Holiday Weekend — WSJ

By Caitlin McCabe and David UbertiU.S. stocks may be headed for their best week since the November "Trump bump."All three major stock indexes advanced Friday, pulled forward 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. Now, muted inflation data and positive U.S. growth projections are buoying investors.Through Thursday, the Dow was up 2.9% for the week, while the S&P 500 climbed 1.9%. The Nasdaq Composite was also up, 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 rising more than 1%. The tech-heavy Nasdaq led the charge.The 10-year U.S. Treasury yield wavered, after settling Thursday around 4.6%.Goldman Sachs is trading around an all-time high after reporting bumper profits earlier this week.Bitcoin's price topped $104,000, 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 closing at records.This item is part of a Wall Street Journal live coverage event. The full stream can be found by searching P/WSJL (WSJ Live Coverage).