Finance

The tech-heavy Nasdaq Composite outperformed the broader market, advancing 1.2% to close near its all-time high and marking its third consecutive weekly gain. Momentum was anchored by heavy weights like Nvidia and an influx of capital driven by ongoing artificial intelligence optimism. This sector strength provided a critical buffer for the wider equity markets amid broader macroeconomic shifts.

Shares across the chip sector received a substantial lift from Micron Technology's exceptional fourth-quarter fiscal 2026 financial results. Driven by surging data center SSD revenues and tight memory supply conditions, the company reported an eleven-fold increase in non-GAAP earnings per share. Revenue quadrupled year-over-year, beating consensus expectations and reinforcing the financial footprint of the artificial intelligence boom.

U.S. government bond yields experienced sharp swings, initially retreating following the soft employment data before pulling back upward. Earlier in the week, the 10-year Treasury yield surged to 5.344%, reaching its highest mark since 2002 due to persistent inflation worries and strong manufacturing data. While the softening job market ultimately alleviated some selling pressure, global bond markets remain highly sensitive to long-term elevated borrowing costs.