Small Caps Rally, Gold Poised For Best Week Since March 2023, Bitcoin Tops $99,000: What's Driving Markets Friday?

Risk appetite remained robust in the final trading session of the week, with all major U.S. indices poised to close the week in positive territory. Small-cap stocks outperformed their large-cap counterparts, continuing their recent streak of dominance.

Fresh business surveys highlighted a notable health in the U.S. economy, with private sector activity recording its strongest expansion in over two and a half years. The services sector, in particular, showed remarkable growth, maintaining its rapid pace of expansion.

The Russell 2000, a benchmark for small-cap equities, surged 1.7% on Friday, building on a 1.5% gain from the previous session. The S&P 500 edged higher, heading for a five-day winning streak, and the Dow Jones Industrial Average climbed past the 44,000 mark, moving tantalizingly close to record highs. Technology stocks posted more modest gains.

In commodities, gold climbed for a fifth straight session, advancing 5.6% for the week, its best weekly performance since March 2023.

Bitcoin (CRYPTO: BTC) also maintained its bullish momentum, soaring past $99,000 and edging closer to the highly anticipated $100,000 milestone.

Friday’s Performance In Major US Indices, ETFs

According to Benzinga Pro data:

Friday’s Stock Movers

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