Dow Jones Industrial Average closes over 500 points higher as risk appetite returns

The Dow Jones Industrial Average surged over 500 points on Thursday, climbing roughly 518 points from a prior close of 52,759.21. That translates to about a 1% gain, which sounds modest until you remember the index had been getting pushed around by volatile bond yields for the better part of a week. What drove the move Two catalysts converged to unlock the rally. The US Treasury announced it was doubling its long-term bond buyback operations to at least $4B, a move designed to relieve upward pressure on yields that had been weighing on equities for days. Lower yields make stocks more attractive on a relative basis, and the market wasted no time acting on the signal. The second catalyst came from Washington’s policy pipeline. President Trump’s proposed Clarity Act, aimed at establishing a legislative framework for cryptocurrencies, added fuel to an already hot digital asset market. Bitcoin’s week to remember Bitcoin rallied approximately 20% over the week leading into Thursday’s session, peaking near $79,500 before settling around $77,000. That made it the largest cryptocurrency’s strongest weekly performance in roughly two to three years. The run wasn’t just spot-market driven. US ...