Finance

With the second-quarter earnings season entering its final stretch, roughly 85% of S&P 500 firms have outpaced analyst consensus estimates. Strong corporate profitability has helped alleviate recent shareholder anxieties surrounding massive capital expenditures on artificial intelligence infrastructure. Tech firms such as Atlassian saw massive single-day moves on the back of impressive guidance updates.

The 10-year Treasury yield softened to 4.64% following the weaker-than-anticipated domestic jobs data, while the two-year note yield dropped to 4.20%. Concurrently, gold prices climbed to their highest level in roughly six weeks, posting substantial weekly gains amid broader fluctuations in the U.S. dollar index. Investors remain highly attuned to global commodity volatility and the subsequent implications for persistent macroeconomic inflation.

Shares of Elon Musk's SpaceX surged 15.8% following the expiration of the company's initial public offering lockup constraints. The strong performance came just one day after the first wave of several post-IPO restriction periods concluded. The firm's public market debut originally took place earlier this year in June.