Finance

The tech-heavy Nasdaq Composite outperformed other major benchmarks with a 1.2% daily gain, setting a new record high. Gains were driven heavily by hardware and semiconductor firms like Nvidia and Micron Technology, ensuring the tech sector maintained its market leadership despite weekly losses for the Dow and S&P 500.

Oil futures fell significantly after the G-7, the European Union, and the International Energy Agency moved forward with plans to release 100 million barrels of crude and diesel from emergency reserves. The decision helped temper supply anxieties brought on by ongoing Middle East conflicts and refined-product tightness, pushing Brent crude down toward the $99 mark.

The cryptocurrency market exhibited renewed upward momentum, with Bitcoin jumping above the $86,000 mark. The digital asset benefited from broader macroeconomic relief as cooling labor market data dampened expectations of further near-term monetary tightening.