Finance

Large-cap technology shares spearheaded market gains, pushing the Nasdaq Composite up 1.2% by the end of the Friday session. Artificial intelligence heavyweight Nvidia surged more than 2% during intraday trading to hit a record-high share price of $237.87, bringing its total market capitalization to $5.72 trillion. Broadcom also jumped roughly 3.5% following reports that a financial syndicate is assembling a massive multi-billion-dollar fund for artificial intelligence chips.

The soft nonfarm payroll report brought relief to the fixed-income markets, pulling benchmark yields down from recent long-term highs. The yield on the 2-year Treasury note fell to 4.7%, while the 10-year note yield dropped to around 5.16%. Concurrently, the U.S. dollar index declined by 0.2% to close at 101.88, reflecting eased expectations for immediate monetary tightening.

Crude oil futures ended the week lower following a joint agreement by G-7 and European nations to release 100 million barrels of crude and diesel from their emergency reserves. West Texas Intermediate futures fell 1.5% to $91.45 a barrel, while the international benchmark Brent crude settled near $102.80 a barrel. Precious metals experienced a down week overall, with gold slipping 0.7% on Friday to close at $4,170 an ounce.