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Bitcoin Hits Record High as Dow Jones Slides; Nvidia Stock Reverses Gains



The price of bitcoin rallied on Monday morning, hitting a fresh record high and trading near $72,000. This sparked big rallies in Coinbase and MicroStrategy.

The Dow Jones Industrial Average fell 0.5% in morning action Monday, as did the S&P 500. The tech-heavy Nasdaq composite also moved down 0.3% after the opening bell.

Among U.S. exchange-traded funds, the Nasdaq 100 tracker Invesco QQQ Trust ETF was down 0.5%, while the SPDR S&P 500 ETF lost 0.4%. The 10-year Treasury yield ticked higher to 4.09%. Further, oil prices added to Friday’s losses, with West Texas Intermediate futures falling 1% and trading around $77 a barrel.

Artificial intelligence leader Nvidia reversed from sharp losses to move up 0.9%, while Super Micro dived 7% Monday morning. The stock remains more than 80% above a flat base’s entry and is considered a leader. Meanwhile, Super Micro experienced a significant drop in value.

The consumer price index from the U.S. Labor Department, set to be released this week, takes the spotlight soon. The CPI is expected to rise, with core prices expected to climb as well. U.S. retail sales data, as well as key earnings reports from companies like Adobe, Oracle, and Jabil, will also be released this week.

Disney, IBM, and Procter & Gamble are among the best stocks to buy and watch in the current market. These companies are attempting breakouts and have potential opportunities for growth. Additionally, other stocks are showing movement and may present opportunities for investors.

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