Finance

The tech-heavy Nasdaq Composite led the financial markets on Friday, securing a 1.2% daily gain and hitting a new intraday record high. Driven by strong performances in artificial intelligence and semiconductor components, the Nasdaq logged its third consecutive weekly victory with a 0.5% advance. Conversely, the broader market suffered as the Dow Jones Industrial Average and the S&P 500 closed the week down 1.3% and 0.3%, respectively.

The yield on the benchmark 10-year U.S. Treasury note closed at 5.28% on Friday, remaining elevated near a 24-year high. While the soft labor market report initially pulled yields downward earlier in the session, they ultimately retraced their losses as investor focus shifted back toward upcoming inflation data. The persistent elevation of borrowing costs continues to cast a shadow over long-term equity returns.

Digital assets experienced notable resilience, with Bitcoin advancing past the $86,000 threshold on Friday morning. Ethereum also reclaimed the $2,700 mark, capitalizing on improving risk appetite and short liquidations following the weak U.S. macro data. This positive start aligns with historical seasonal trends for October, which institutional analysts note has traditionally been the strongest performing month for digital currencies.