Stocks Recover as Bitcoin Surges Past $77,000 Amid Strong Economic Data

The end of a volatile week on Wall Street saw stocks rebound as economic data pointed to growth. The S&P 500 rose, with most shares gaining amid positive news about US business activity.

US business activity grew at its fastest pace in more than four years, according to the latest figures. This boost led to an increase in the Nasdaq 100, which snapped a five-day losing streak ahead of Nvidia Corp.'s results on Wednesday.

Bitcoin surged past $77,000, marking one of its biggest weekly rallies since 2023. Despite some volatility earlier in the week, long-dated Treasuries were set to end the week little changed.