Finance

Apple and Microsoft shares fell significantly after announcing price hikes for hardware ranging from Macs to Xbox consoles, citing a surge in memory and storage costs. This pressure from rising component expenses overshadowed a blockbuster earnings report from Micron Technology, which initially bolstered semiconductor optimism before sentiment shifted.

Trading volume on the Nasdaq Closing Cross reached a historic $334 billion on Friday, executing over 4.5 billion shares in less than two seconds. This massive liquidity event was driven by the semi-annual rebalancing of the Russell US Index family, reflecting major shifts in market capitalization and style classifications across the U.S. equity landscape.

The 10-year Treasury yield edged down toward 4.38% as oil prices stabilized near $70 a barrel following reports of a potential deal to reopen the Strait of Hormuz. Despite some late-session volatility from fresh military reports, the overall easing of energy costs and cooling inflation expectations provided a brief respite for the broader market.