Since the April 7 lows plumbed after U.S. President Donald Trump's 'Liberation Day' tariff debacle, the S&P 500 and Nasdaq are up 23% and 32%, respectively. 'Big Tech' has led the way, with the Roundhill 'Magnificent Seven' ETF gaining more than 35%.

And CRCL could get an additional boost if Congress passes the GENIUS Act – a bill aimed at creating a regulatory framework for stablecoins. Data from the Labor Department showed that initial jobless claims rose by 8,000 last week to 247,000, more than the 236,000 economists expected.

Shares of Elon Musk’s electric vehicle maker are falling sharply Thursday as investors fear his dispute with Donald Trump could end up hurting the company