U.S. Rate Cut Expectations Rise, Dow Closes Above 40,000 for the First Time, Up Five Weeks in a Row

$S&P 500 Index(.SPX.US)$ rebounded close to record highs, while the $Nasdaq Composite Index(.IXIC.US)$ fell for the second consecutive day but has risen for two weeks in a row. $Alphabet-C(GOOG.US)$ hit new highs for three consecutive days. Meme stock $GameStop(GME.US)$ dropped nearly 20%, falling by double digits for three days in a row.

U.S. Treasury yields rose for two consecutive days, rebounding more than 10 basis points from the nearly six-week low hit on Thursday, though they continued to decline for the week. The dollar index fell, down for four days this week. Bitcoin surged over $2,000 intraday, breaking the $67,000 mark and hitting a one-month high.

Oil prices rose for the third consecutive day, with WTI breaking above $80 for the first time this month, up for two weeks in a row. U.S. natural gas rose nearly 17% for the week. Gold and copper futures hit all-time highs, and silver and nickel soared. Silver rose over 6% intraday, LME nickel rose over 11% for the week, and copper and tin each rose over 6%.