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Market roundup: U.S. equities climb to new highs
Wall Street opened higher on Wednesday as investors pushed the S&P 500 and Nasdaq to fresh record levels. The S&P 500 rose about 0.3% to trade above 6,400, while the Nasdaq Composite added roughly 0.4% to break past 21,795. The Dow Jones Industrial Average also advanced, gaining approximately 150 points as major tech names fueled early gains.
Global markets and regional performance
Asia-Pacific markets closed broadly higher, reinforcing risk-on sentiment across global markets. Japan's Nikkei 225 jumped about 1.3% to a record close, with the Topix up 0.83%. South Korea's Kospi climbed 1.08%, and mainland China's CSI 300 finished the session roughly 0.79% higher.
Crypto rally led by Bitcoin and Ethereum
Cryptocurrency markets mirrored the upbeat equity session, with top altcoins leading the charge. Bitcoin surged above the $120,000 mark, while Ethereum staged a breakout above $4,600. Rising interest from crypto treasury companies and a favorable regulatory backdrop have helped ignite the latest crypto rally.
Analyst outlook on Ethereum and altcoins
Standard Chartered analysts delivered bullish medium-term targets for Ether, forecasting ETH could reach $7,500 by the end of 2025 and climb to $12,000 in 2026. These projections, combined with broader altcoin momentum, are drawing renewed institutional attention to decentralized finance and token-led growth sectors.
Key drivers: Fed expectations, CPI and policy shifts
Equity gains were supported by rising odds of a Federal Reserve interest rate cut later this year. July's consumer price index came in lower than expected, reinforcing investor expectations for a potential September rate reduction. In addition, political developments—including a 90-day pause on tariffs targeting China announced by President Donald Trump—contributed to improved market sentiment.
What investors should watch next
Market participants will monitor upcoming economic data, Fed commentary, and regulatory developments affecting crypto. Banks and strategist firms like Citigroup are already projecting further upside for U.S. stocks, with some forecasts placing the S&P 500 near 6,600 in 2025. For crypto investors, liquidity flows into treasury allocations and institutional adoption remain key catalysts to follow.
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