Crypto, tech, and software stocks are rallying today because traders are buying growth names again while the S&P 500 and Nasdaq Composite sit at record levels. The S&P 500 rose 0.29% to 7,230.12 after touching a fresh all-time intraday high.

The Nasdaq Composite gained 0.89% and closed at 25,114.44, also at a record. The Dow Jones Industrial Average went the other way, falling 0.31%, or 152.87 points, to 49,499.27. Apple (AAPL) helped push the wider market higher, while lower oil prices gave traders one less headache at the start of the new trading month.

Donald Trump had said on Truth Social that he would raise tariffs on European cars and trucks:

“Based on the fact the European Union is not complying with our fully agreed to Trade…