Finance

The tech-heavy Nasdaq Composite led Wall Street's gains with a 1.2% jump, logging its third consecutive weekly gain. Megacap tech corporations and AI hardware manufacturers, including Nvidia and Broadcom, experienced notable upside momentum. Strong quarterly financial results from Micron Technology further bolstered investor optimism surrounding artificial intelligence and data center demand.

U.S. government bond yields eased from multi-decade highs after the soft employment report signaled cooling economic momentum. The 10-year Treasury note yield retraced down to 5.16% after briefly touching 5.344% during intraday trading, which had marked its highest level since 2002. Shorter-term yields also softened as traders adjusted their macroeconomic outlook and monetary policy projections.

Tesla shares jumped 4.5% after reporting third-quarter vehicle delivery numbers that surpassed consensus estimates. Concurrently, Broadcom saw its stock gain 3.5% amid reports that a syndicate is organizing a massive $60 billion financing package to support artificial intelligence chip infrastructure for developers like Anthropic.