Finance

Driven by robust demand for artificial intelligence hardware, the technology sector led the broader market upward, lifting the Nasdaq Composite by 1.2% to achieve a fresh intraday record. Heavyweights like Nvidia posted strong sessions, helping the tech-concentrated index notch a weekly gain of 0.5% despite concurrent weekly losses for the Dow and S&P 500.

U.S. government bond yields retraced from recent multi-decade peaks following the latest employment update. Yields on both the 2-year and 10-year Treasury notes dropped on expectations of a less aggressive policy stance from central bankers, directly bolstering market sentiment.

Crude oil futures fell 1.53% over the week following an agreement by G-7 and European nations to release 100 million barrels of fuel from emergency reserves to address high global prices. Precious metals also trended downward, with gold losing 1.41% and silver declining 2.59% over the course of the week.