Market Update: Bitcoin Hits All-Time High, Google Surges, UNH Falls Again.

Published: May 21, 2025 by Omor IE

Key Points

Bitcoin is surging as investors are piling into alternative assets.
Google is also surging after unveiling new AI features.
The broader market is still in the red, though the Nasdaq has been pulled up by GOOG.

Bitcoin just hit a new all-time high as the broader market has seen a resurgence of fear. It hit $109,487.23, and it has continued to gain momentum. Conversely, the broader market has been red today. There has been a recovery to more lukewarm levels, but investors are still fearful due to Treasury yields moving higher. Gold has also moved higher by 0.9%.

The big-cap stocks have held on surprisingly well so far today. None of them are down over 1% and have started moving to positive territory. Today’s underperformance is mostly being driven by the healthcare and energy sectors. Real estate and utilities are also performing worse. Communication Services is the biggest winning S&P 500 sector today.

Here’s a market update as of 11:45 AM (ET) today.

The S&P 500 is down 12.53 points, or 0.21%.
The Nasdaq Composite is up 61.08 points, or 0.32%.
The Dow Jones Industrial Average is down 319.52 points, or 0.75%.

Investors Turn Bullish On Alphabet, Bearish on UnitedHealth

There has been a lot of talk about Alphabet (NASDAQ: GOOG, NASDAQ: GOOGL) losing its edge in the search engine market due to AI, but this is a claim that is yet to be supported by the data. The fundamentals have been strong, and Google’s own AI products are now considered to be the best. It is now integrating its search function with its AI models to improve its search capacity, whereas competitors are still stuck with Bing and other inferior engines to feed their search AI models.

GOOG stock has rallied by over 5% today after the company came out with new AI products. It has a $249.99 monthly subscription tier for power users, and rolled out its search AI mode to all U.S. users.

On the other hand, UnitedHealth (NYSE: UNH) has tumbled 4% after a brief recovery. This is due to reports that the company paid nursing homes to reduce hospital transfers.

Notable Losers Today

Wolfspeed (NYSE: WOLF) is down 67.7% after The Wall Street Journal reported the company is preparing to file for bankruptcy.
Fair Isaac (NYSE: FICO) is down 16% after FHFA raised questions about its pricing.
Diginex (NASDAQ: DGNX) is down 13%.
Wix.com (NASDAQ: WIX) is down 13.1% due to poor Q2 revenue guidance.
Carter’s (NYSE: CRI) is down 10.4% after a dividend cut.

Notable Gainers Today

Canada Goose Holdings (NYSE: GOOS) is up 27.2% after solid Q4 earnings. It said it sees “minimal” impact from tariffs.
WeRide (NASDAQ: WRD) is up 24.1% after a $100 million share buyback announcement.
CoreWeave (NASDAQ: CRWV) is up 17.6%. Citi raised its price target on CRWV to $94 after strong Q1 results.
Dycom Industries (NYSE: DY) is up 16.5% after solid Q1 earnings.
XPeng (NYSE: XPEV) is up 13.2% due to deliveries surging 330%.