#market-rally

#market-rally

Markets continue to push higher on strong earnings and upgrades. At the moment, Dow futures are up about 23 points. Nasdaq futures are up about three, as the S&P 500 tacks on about two points. All gaining a boost after General Motors ( NYSE: GM) hiked its guidance for the full year and beat earnings expectations. In fact, GM's EPS of $2.80 was better than the $2.31 expected. Revenue of $48.59 billion was better than the estimates of $45.27 billion.

There are several key drivers for the bullish reversal. Macroeconomic uncertainty - including the ongoing U.S. government shutdown - has led investors toward alternatives like bitcoin, historically seen as a hedge against traditional financial risks. Geoffrey Kendrick, head of digital assets at Standard Chartered, believes that bitcoin's role as a safe haven is being amplified by the fiscal gridlock in Washington.

The ProShares UltraPro QQQ, iShares Ethereum Trust ETF, and VanEck Semiconductor ETF are all soaring today due to broader market optimism.