Dow Jones Top Markets Headlines at 5 PM ET: Bitcoin Surges as Institutional Demand, Short Covering, Clarity Act Progress Converge | Gold ...

Bitcoin Surges as Institutional Demand, Short Covering, Clarity Act Progress Converge

The cryptocurrency jumped more than 9% to hit a peak of $79,455 on Friday-its highest level since late May-as a combination of catalysts coincided.

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Gold Above $4,600 on Weaker Dollar, Debt Fears

Gold climbed back above the $4,600-an-ounce mark as investors viewed the U.S. Treasury's plans to expand bond buybacks to bring long-term yields lower as a sign of stress, sparking a fresh round of dollar selling.

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Bitcoin Jumps While the S&P Heads for Weekly Loss

Stocks were rising, but the Dow industrials were still facing their largest weekly decline since March.

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The Three Minds Leading the Fed's Inflation Rethink

Greg Mankiw, Thomas Sargent and William White all have strong ideas about why prices rise. Their work could guide how the Fed fights inflation.

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Canada Retail Sales Slip After Rising a Sixth Straight Month in June

Canadian spending, which has helped underpin a sluggish economy, stalled last month and snapped a run of rising retail trade through the first half of 2026.

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U.S. to Boost Beef Imports to Address High Prices, Trump Says

The president said he would temporarily allow up to 300,000 metric tons of ground beef to be imported into the U.S. without paying higher tariffs.

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Europe and Asia See Pickup in Activity Despite Headwinds

Business activity in the U.S., Europe and parts of Asia has picked up in the face of a series of headwinds related to the war in the Middle East, suggesting the global economy cooled slightly in the second quarter.

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Week Ahead for FX, Bonds: Warsh Speech at Jackson Hole, U.S. PCE Data in Focus

Federal Reserve Chairman Kevin Warsh's speech at the Jackson Hole symposium will be the key event for investors as they continue to seek clarity on whether and when U.S. interest rates might rise.

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Japan Inflation Picks Up as Rate-Boost Bets Firm

Japan's consumer inflation picked up last month, firming expectations that the next interest-rate hike is around the corner.

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Bessent's Surprise Interventions Are Leaving Bond Investors Bracing for More Change

The Treasury Secretary surprised markets by buying back more long-term debt to lower yields.

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U.K. Government Borrowing Rose Despite Record Income Tax Revenue

The U.K. government borrowed more in July than a year earlier as an increase in spending more than offset record revenues from income taxes.

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Canada Trade Official Says Tariff Deal With U.S. 'Very Close'

Dominic LeBlanc, Canada's minister in charge of U.S. trade, said Ottawa and Washington are "very close" to finalizing an agreement.

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Trump Wants to Revive Keystone XL. The Industry Has a Different Plan.

A trio of proposed pipelines would serve the same function-delivering heavy oil from western Canada to Gulf Coast refineries-without the hot-button name.

(END) Dow Jones Newswires

August 21, 2026 17:00 ET (21:00 GMT)