Finance

Nvidia reported record first-quarter revenue of $81.6 billion and earnings of $1.87 per share, significantly outperforming Wall Street expectations driven by insatiable AI hardware demand. However, the stock experienced profit-taking pressure following the release, falling nearly 2% to lead Dow decliners as the market adjusted to its high valuation.

U.S. Treasury yields eased slightly by the end of the week, with the 10-year note finishing at 4.56% after a period of intense volatility. Earlier in the week, the 30-year yield surged to 5.2%, its highest level since 2007, as persistent inflation concerns tied to geopolitical conflict in the Middle East pressured the bond market.

The Federal Reserve kept interest rates in the 3.5%-3.75% range, with recent meeting minutes revealing significant internal division regarding future policy. While some officials previously forecasted a rate cut, persistent inflation at 3.3% and rising energy costs from global conflicts have led major brokerages to predict that rates will remain unchanged through the end of 2026.