Finance

The tech-heavy Nasdaq Composite led major market averages higher, logging a 1.2% daily gain and recording a fresh record peak. This growth secured a third consecutive positive weekly performance for the tech index, contrastingly outperforming the Dow and S&P 500, which ended their individual weeks lower. Renewed excitement surrounding upcoming artificial intelligence market opportunities and lower comparative bond yields provided heavy tailwinds for market leaders.

Market participants actively dialed back expectations for a Federal Reserve rate hike later this month following the downbeat employment report. Derivative tracking showed that target odds for an imminent rate increase plummeted from 64% the week prior down to 21%. Top economists indicated that the central bank will likely hold steady as economic data indicators illustrate structural deceleration.

Crude oil futures notched weekly losses of roughly 1.5% amid international efforts to stabilize broad energy markets. G-7 member nations alongside European partners finalized an agreement to inject 100 million barrels of diesel and crude from specialized emergency reserve stockpiles. This concerted supply expansion offset pressure from intraday bond and currency movements.