Finance

The tech-heavy Nasdaq led market gains with a 1.7% rise, fueled by a major chip-manufacturing agreement between Intel and Apple. While semiconductor and AI-related stocks reached new peaks, some firms like Cloudflare saw sharp declines following announcements of job cuts linked to artificial intelligence restructuring.

Brent crude prices surpassed $100 per barrel due to military clashes near the Strait of Hormuz and ongoing conflict involving Iran. These rising fuel costs and supply uncertainties have created a divergence in the market, pressuring energy-sensitive sectors even as broader indexes reach new highs.

U.S. Treasury yields declined slightly on Friday, with the 10-year note settling near 4.37% as investors weighed strong labor data against cooling earnings growth. Despite the slight drop, yields remain elevated compared to pre-war levels as traders assess whether the Federal Reserve will maintain current interest rates through 2026.