Finance

Despite the broader market gains, the Nasdaq Composite fell as investors aggressively locked in profits from high-flying chipmaker stocks. Leading firms like Micron and Applied Materials faced substantial corrections, with the semiconductor index shedding more than 6% in a single week due to concerns over rising AI infrastructure costs.

The Federal Reserve held its benchmark interest rate at 3.50% to 3.75% during its most recent meeting, but officials signaled a shift toward a more hawkish stance. While cooling labor data has reduced immediate pressure for further hikes, many policymakers still anticipate that rates will end 2026 higher than current levels due to persistent inflation risks.

Cryptocurrency markets saw a notable rebound as Bitcoin climbed back to the $62,000 level after briefly dipping below $58,000. The recovery was largely triggered by weak U.S. employment data, which lowered market expectations for aggressive monetary tightening and temporarily improved the global appetite for risk-on assets.