Finance

Chipmaker stocks spearheaded the market's upward momentum, with the PHLX Semiconductor Index climbing more than 60% over the last six weeks. A significant driver was a preliminary chipmaking agreement between Intel and Apple, which sent Intel shares soaring 14% to a fresh record high. Nvidia also continued its ascent, advancing nearly 2% to maintain its position as the world's most valuable company.

The yield on the benchmark 10-year Treasury note fell to approximately 4.36% as bond prices rose at the end of the week. Despite the stronger-than-expected jobs report, yields eased as traders reacted to a dip in consumer sentiment and anticipated the Federal Reserve would maintain current interest rates. The 2-year and 30-year yields also saw declines, finishing the week at 3.90% and 4.95% respectively.

Bitcoin remained steady above the $80,000 mark following the latest employment data, reflecting a consolidation phase after recent volatility. Ethereum prices fluctuated near the $2,300 level, while broader market sentiment was influenced by the progress of the CLARITY Act in Congress. Although Coinbase reported a revenue miss earlier in the week, analysts suggest institutional adoption and regulatory clarity could serve as future catalysts.