Bitcoin surged to $80,000 after falling nearly 40%, while stocks stabilized just below record highs as technology and communication-services shares advanced. A pause in the selloff in long-term bonds also supported equities. Nvidia delivered the beat-and-raise quarter Morningstar analyst Brian Colello had anticipated, amid accelerating artificial-intelligence buildouts. Federal Reserve Chair Kevin Warsh’s speech at the Kansas City Fed’s annual economic conference in Jackson Hole, Wyoming, was closely watched for clues about inflation and a possible September rate hike; economists said he was reinforcing his anti-inflation credentials. Analysts also assessed the drivers and durability of bitcoin’s rebound. Meanwhile, Morningstar updated its screen of stocks bought by top fund managers, finding heavy technology exposure as active stock funds struggled to navigate market uncertainty.