Trump Media’s stock rallied to a six-week high Tuesday — with bitcoin approaching another record high — as the parent of President Trump’s Truth Social social-media platform looks to ride the bitcoin wave.

Stock sales by top officials clustered before Trump's major tariff announcements, according to a USA TODAY analysis of transaction forms.

In stocks, Nvidia more than 1% rose as investors await Alphabet GOOGL earnings at market close. Shares also rose following a Wall Street Journal report that Tesla TSLA Chief Executive Elon Musk's xAI startup is looking to raise up to $12 billion to buy Nvidia chips to train xAI's Grok chatbot.

In tandem with a presidential speech on Wednesday, the Trump administration is set to roll out its “AI Action Plan,” and new executive orders on AI are expected.

The yield on the 10-year hit a 52-week high of 4.896% on January 13, a week before Trump's second inauguration, and traded as low as 3.860% on April 4 before spiking to 4.607% on May 21, then settling at 4.431% on July 18.

Trump Media rose in premarket trading on Tuesday after the company announced it had accumulated $2 billion in bitcoin and related assets.

Ed Mills, Raymond James Washington policy analyst, joins 'The Exchange' to discuss President Trump's AI policy blueprint and the impact of Trump's megabill.

Short squeezes have been a key piece of the stock market rally as short sellers have lost just shy of $355 billion since the market bottom on April 8, according to data from S3 Partners.