U.S. Stocks Open Higher; Circle Stock Jumps Another 16% After Soaring 544% This Month

Tiger Newspress06-20

US stocks opened higher on Friday after Federal Reserve Governor Christopher Waller said inflation was tame enough that the central bank could cut rates at its next meeting, a more optimistic view than Chair Jerome Powell gave on Wednesday.

Traders also bid stocks higher slightly as oil prices pulled back with President Donald Trump saying he would hold off deciding on an Iran strike.

Circle shares jumped another 16% in morning trading as as Wall Street cheered the Senate’s passage of the GENIUS Act, which would establish a federal framework for U.S. dollar-pegged stablecoins.

Circle, the issuer of the USDC stablecoin, rose 33% on Wednesday following the passing of the bill late Tuesday. It’s the continuation of a remarkable run for Circle’s stock since the company held its stock market debut on June 5. The shares are trading at about $200, up almost 544% from their $31 IPO price.

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