Finance

The tech-heavy Nasdaq Composite climbed 1.2% on Friday, securing its third consecutive weekly gain by finishing the week up 0.5%. In contrast, the Dow Jones Industrial Average and the S&P 500 closed the week down 1.3% and 0.3% respectively, despite posting daily gains. Robust performance among artificial intelligence semiconductor companies heavily supported the tech-heavy benchmark's record-setting momentum.

Digital assets experienced positive momentum to start October, driven by a shifting macroeconomic narrative and easing Treasury yields. Bitcoin rallied past the $86,000 mark on Friday, while Ethereum successfully reclaimed the $2,700 level. The upward move aligns with historical trends for the month, commonly referred to by market participants as 'Uptober', and was further boosted by upward revisions to long-term price targets from major financial institutions.

Crude oil futures ended the trading week lower, experiencing a 1.53% decline. This downward trend followed an agreement between G-7 and European nations to release 100 million barrels of crude and diesel from their emergency stockpiles to address rising global fuel pressures. Despite a brief intraday recovery on Friday, the coordinated international effort successfully cooled the oil market.