Finance

Tech shares stabilized and led the market higher on Friday, reversing a sharp sell-off triggered by lower-than-anticipated revenue figures from OpenAI. Despite lingering pressure in the broader sector, which included Nvidia-backed Firmus Grid canceling its planned initial public offering in Australia, the tech-heavy Nasdaq recorded its fourth consecutive week of gains.

Crude oil futures dipped slightly on Friday following a recent surge driven by rising military tensions in the Middle East and vehicle strikes near the Strait of Hormuz. Prices found relief after an announced agreement for Russia to supply diesel to global and domestic markets, though Brent crude remained highly elevated above the $100 per barrel threshold.

Long-dated U.S. bond yields retreated slightly from their highest points in over two decades, with the 10-year Treasury yield hovering just under 5.25%. Fixed income markets remain under pressure from persistent inflation and heavy debt issuance, and investors are closely watching major banks reporting next week to evaluate economic resilience.