Market Movers: Bitcoin Hits New High as Stocks Rally

Wall Street stocks gained momentum amid mixed global markets, bolstered by AI enthusiasm and a positive outlook on the Federal Reserve's rate cuts. Bitcoin surged to a record high following pro-crypto congressional victories. Meanwhile, geopolitical tensions and economic data will shape future market directions.

Wall Street stocks showed gains on Monday, continuing last week's rally amid mixed global markets. Dow E-minis rose 0.5%, S&P 500 E-minis increased 0.3%, and Nasdaq 100 E-minis were also up 0.3% as of midday.

The uptrend comes as the S&P 500 lifted 25% year-to-date, driven by artificial intelligence enthusiasm and signals of Federal Reserve rate cuts. Investors will closely monitor U.S. consumer price inflation data and other economic indicators this week for cues on interest rate trajectories.

Bitcoin set a new record high at over $82,370, fueled by expectations of reduced regulations following election results favoring pro-crypto candidates. Concurrently, European stocks climbed, and geopolitical movements in Asia hint at fluctuating futures.

(With inputs from agencies.)