Key Takeaways:
- Bitcoin topped $103K, lifted by bullish sentiment and wallet growth
- U.S.-U.K. trade deal boosted confidence with tariff cuts and sector cooperation
- Global equities, crypto, and oil rallied on renewed risk appetite
- Ethereum jumped 20%, following the successful Pectra network upgrade
- Investors now await inflation data and rate guidance to gauge rally strength
Global markets surged on Friday, May 9, 2025, following the announcement of a landmark trade agreement between the United States and the United Kingdom.
What the U.S.-U.K. Trade Deal Includes
The deal eliminates U.S. tariffs on British steel and aluminum and reduces car export tariffs from 27.5% to 10% on up to 100,000 vehicles annually.
In return, the U.K. will lower tariffs on American beef and ethanol imports, enhancing market access for U.S. agricultural producers.
The agreement also includes provisions for streamlined customs procedures and increased cooperation in sectors like aerospace and pharmaceuticals.
This development boosted investor confidence, leading to significant gains across equities, commodities, and cryptocurrencies, with Bitcoin surpassing the $103,000 mark.
Crypto Market: Bitcoin Surges Past $103K, Ethereum Jumps 21%
Bitcoin’s price soared past $103,000 before slipping back to around 102,800, marking a significant milestone fueled by increased investor interest and the creation of over 344,000 new wallets, suggesting growing market participation.
Ethereum joined the rally, experiencing a 21.4% increase to reach $2,197.56, fueled by the market sentiment and the successful implementation of the Pectra upgrade, which enhanced network efficiency and scalability.
Similarly, Solana climbed to $161.76, supported by positive developments in its DeFi ecosystem.
Indices Climb as Trade Pact Lifts Equities
Equities climbed globally as the new U.S.-U.K. trade deal signaled stronger trade ties and lowered concerns about future trade barriers.
By reducing tariffs and streamlining trade in key sectors, like autos and agriculture, the agreement sparked broad-based buying across major indices, with tech, financials, and energy stocks leading the gains:
- S&P 500: 5,663.94
- Dow Jones Industrial Average: 41,386.22
- Nasdaq Composite: 17,928.37
The upward trend was also reflected in European and Asian markets.
The FTSE 100 rose to 8,531.71, fueled by increased strength in mining and energy stocks. In Japan, the Nikkei 225 rose 1.25% to 37,478.63.
Oil and Gold: Crude Climbs, Gold Holds Steady
Following news of the trade agreement, the gold and energy markets reacted quickly, experiencing broad commodity gains as investor sentiment shifted towards risk-on.
Brent crude advanced 1.5% to $63.13 per barrel, and WTI rose to $60.33, up 1.6%, as signs of growing U.S. summer fuel demand emerged.
Meanwhile, gold prices were marginally lower at $3,323.99/oz, slipping 0.2% as investors pivoted toward risk assets.
Corporate Stocks: Tech Drives Market Gains
Corporate earnings and macro tailwinds lifted several marquee stocks.
Apple rose 2.1% to $197.49, fueled by unexpectedly strong sales in China. Nvidia gained 3.4% to $117.37 as AI chip demand showed no signs of slowing.
Market Wrap-Up
Bitcoin surpassed $103,000 after a week of bullish activity, boosted by the trade agreement’s positive influence on global markets.
This broad macro boost fueled similar gains in equities, commodities, and other cryptocurrencies, reflecting a clear shift toward risk-on sentiment despite lingering inflation concerns.
