At the beginning of the U.S. stock market, the Nasdaq rose by 1.1%, and cryptocurrency concept stocks saw a broad increase

The Dow Jones Industrial Average rose by 0.6%, and the S&P 500 index increased by 0.7%. Cryptocurrency concept stocks generally rose, with Coinbase up about 5%. Tapestry rose about 7%, as the company's net sales in the third fiscal quarter exceeded expectations, and it raised its revenue and adjusted earnings per share forecasts for the full year. AppLovin surged about 13%, as the company's first-quarter performance exceeded expectations and it agreed to sell its gaming division. ARM fell about 5%, as the company's performance guidance was below expectations. Shopify declined about 3%, as the company's first-quarter revenue fell short of expectations. Most Chinese concept stocks rose, with Li Auto up about 4%