Finance

Following the softer labor metrics, fixed income markets experienced a notable shift as bond yields fell. The 10-year Treasury yield slid down to 5.21%, while the 30-year yield moved lower to 5.57%. This retreat in yields offered a reprieve to equity markets, particularly benefitting high-growth sectors.

The tech-heavy Nasdaq Composite outperformed other major benchmarks, surging by over 1% to reach a fresh record high. Tech shares found support as market participants scaled back their expectations for near-term interest rate increases. The gains helped lift the broader S&P 500 and Dow Jones Industrial Average into positive territory as well.

The Securities and Exchange Commission introduced new cryptocurrency custody rules designed for investment advisers and funds. The framework aims to clarify how regulated financial entities can manage digital asset holdings internally. Meanwhile, digital asset prices responded with high volatility, reversing earlier intraday gains immediately following the release of the U.S. employment report.