Stock Market Update
21-Jul-26 12:00 ET
Clarity Act progress sends crypto-related stocks surging
Dow +385.47
at 52224.73,
Nasdaq +327.37
at 25856.45,
S&P +58.91
at 7502.19
[BRIEFING.COM] The major averages sit at session highs at midday.
Coinbase Global (COIN 180.26, +19.83, +12.36%) is the top-performing S&P 500 name. The stock is supported by reports that the Clarity Act, which looks to establish a clearer framework around the federal regulation of cryptocurrencies and other digital assets, is gaining traction in Congress. Bloomberg reports that Treasury Secretary Scott Bessent said lawmakers were at the "one-yard line." Additionally, the White House signed off on the ethics provision of the act, removing the last major obstacle to a Senate vote.
As a result, Bitcoin is rising again today, currently up past the $66,500 mark.
The move also supports a solid gain in Robinhood Markets (HOOD 107.66, +8.38, +8.44%).
