Finance

The tech-focused Nasdaq Composite jumped 1.2% to achieve a fresh all-time record, logging its third consecutive weekly gain even as the Dow and S&P 500 booked losses over the same five-day period. Strong earnings projections and extensive customer commitments from major chipmakers like Micron reinforced heavy institutional confidence in the broader artificial intelligence sector. Conversely, companies exposed to hardware oversupply faced separate headwinds due to rising production capacity forecasts.

Treasury yields experienced sharp movements after the 10-year and 30-year yields surged to technical levels not observed in roughly 24 years. Yields dropped notably on the short end of the curve immediately following the weak employment print as investors reassessed the path of central bank tightening. Yields later retraced some of these initial losses as stabilizing oil prices minimized systemic deflationary expectations.

Digital assets began the month with strong upward momentum, with Bitcoin climbing back above the $86,000 threshold and Ethereum moving over $2,700. The digital token market benefited from short liquidations, lower Treasury yields, and historically optimistic seasonal trends often termed 'Uptober' by market participants. Additionally, major financial institutions upwardly revised their long-term price targets for the leading cryptocurrency.