Finance

The tech-heavy Nasdaq Composite led Wall Street's gains on Friday, jumping 1.2% to score a new intraday record and secure its third consecutive weekly win. Strong performances from prominent artificial intelligence and semiconductor firms, including Nvidia reaching an all-time high, spearheaded the advance. Strong earnings from tech players like Micron Technology further reinforced corporate leadership within the sector.

The 10-year and 2-year U.S. Treasury yields pulled back from recent long-term highs following the release of the weak employment data. Market participants adjusted their expectations, pricing in only about a one-in-four chance of an October interest rate increase by the central bank. This lower-yield environment offered a reprieve to equities and reduced near-term headwinds for commodities.

Cryptocurrencies staged a firm advance alongside traditional financial markets as cooling macroeconomic factors eased rate concerns. Bitcoin experienced a significant daily jump to trade in the mid-$80,000 range, while Ethereum recovered to climb past the $2,700 mark. Broader digital assets found support from positive shifts in long-term price targets from major banking institutions like Citi.