Trading Frenzy: Markets Surge Amid Political Shifts and Economic Speculations

Wall Street saw a stock rally as traders kicked off a busy week with gains in major indices, despite falling oil prices and a record high for Bitcoin. Investors are focusing on economic indicators and political developments, with potential impacts on U.S. policy and global markets.

Wall Street traders opened the week with a notable rally in stock markets, extending last week's gains. Significant movement was seen as oil prices dropped, while Bitcoin soared to a new record high, reflecting optimism among investors.

The Dow Jones Industrial Average rose by 1% to reach 44,426, while the S&P 500 and Nasdaq Composite posted gains of 0.34% and 0.11%, respectively. Amid the highlights, Tesla's valuation surpassed $1 trillion, and stocks like Coinbase, MARA Holdings, and Riot Platforms all surged by over 10%.

In the political arena, the Republican party edged closer to controlling Congress, fueling expectations of equities-friendly tax policies. Focus remains on U.S. inflation data, Federal Reserve comments, and upcoming economic indicators. Meanwhile, global markets reacted to U.S. regulatory signals, affecting currencies and commodity prices.

(With inputs from agencies.)