Finance

The tech-heavy Nasdaq Composite led Wall Street's gains with a 1.2% jump, setting a new record intraday high and achieving its third consecutive weekly gain. Strong performance among artificial intelligence semiconductor manufacturers, notably headlined by Nvidia climbing to an all-time high, heavily supported the index's upward trajectory. In contrast, the Dow Jones Industrial Average and S&P 500 finished higher on Friday but still recorded modest weekly losses.

Cryptocurrencies advanced strongly on Friday, mirroring the broader market's positive reaction to softening employment data. Bitcoin firmly established itself in the mid-$80,000 range while analysts raised their long-term targets, and Ethereum successfully reclaimed the $2,700 threshold. Market participants noted that a healthy macroeconomic sentiment and a softer interest rate outlook are paving the way for bullish targets as the fourth quarter begins.

Nike shares experienced a significant drop at the end of the week, heavily weighing on the consumer discretionary sector. Although the athletic apparel company delivered stronger quarterly profits than anticipated, its overall revenue growth slowed significantly. Concerns intensified after management issued a weaker-than-expected full-year sales outlook and announced upcoming corporate layoffs.