Finance

The technology-heavy Nasdaq Composite outperformed other primary indexes, achieving a 1.2% daily increase and establishing a new record intraday high. A strong performance by AI hardware manufacturer Nvidia, which touched its own all-time high, spearheaded the broader tech rally. Consequently, the Nasdaq booked its third consecutive winning week, contrasting with weekly losses observed in the Dow Jones Industrial Average and S&P 500.

Crude oil futures settled lower as the G-7 nations and European leaders agreed to deploy 100 million barrels of crude and diesel from emergency stockpiles over the next four months. West Texas Intermediate dropped 1.90% to settle at $91.11 per barrel, while Brent crude held relatively flat at $102.25. The strategic coordinated intervention aimed to mitigate escalating global fuel costs despite ongoing geopolitical tensions in the Middle East.

Digital assets experienced positive price movement, with Bitcoin reclaiming the $85,000 threshold before consolidating in the mid-$84,000 territory. The sudden upward trajectory triggered roughly $110 million in short-position liquidations across derivatives markets within a brief window. Concurrently, Ethereum regained the $2,700 level following an upgraded 12-month target forecast from Citi.