The major averages rose today boosted by gains in bitcoin and technology names, as traders recovered some of the ground lost in the previous session. The Dow Jones Industrial Average rose 185 points, or 0.39%, to end the day at 47,474. The S&P 500 climbed 16 points or 0.25% to settle at 6,829, while the Nasdaq Composite rose 137 points or 0.59% to 23,413.

Bitcoin rose around 7% Tuesday, recouping some of its losses from the prior day. Vanguard and Bank of America update their guidance on crypto allowing more access to their clients. Shares of crypto related stocks were higher today like Robinhood, Coinbase and Strategy which rose 5%.

Chip stocks also performed well  except for AMD, Micron and Broadcom.

Interest rates were quiet ahead of next week’s Fed meeting. The 10-year Treasury was quiet at 4.09%, while the 30-year Treasury yield rose less than a basis point to 4.74%. The 2-year Treasury yield, most sensitive to short-term policy rates, fell more than 2 basis points to 3.51%.

In the commodity space, oil fell a percent while gold fell a percent as well. Crypto currencies were the real winners today, but remain in bear market territory.

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