Finance

U.S. stock markets closed higher following the soft labor data, led by a 1.2% rally in the tech-heavy Nasdaq Composite, which pushed the index to a new record high. The S&P 500 rose 0.7% to pull within 1% of its all-time high, while the Dow Jones Industrial Average added 0.5%. Despite the Friday recovery, both the Dow and the S&P 500 ended the trading week in negative territory, down 1.3% and 0.3% respectively.

Technology and semiconductor shares received a substantial lift following blowout financial results from industry heavyweights. Micron Technology reported massive fourth-quarter fiscal 2026 growth, with non-GAAP earnings reaching $33.42 per share driven by robust artificial intelligence data center demand and tight inventory pricing. Broadcom also notched a 3.5% gain amid reports that a major syndicate was organizing billions in AI chip financing for Anthropic and other tech ventures.

Cryptocurrencies displayed considerable upside momentum early in the session, with Bitcoin pushing well past the $86,000 threshold and Ethereum tracking gains alongside other risk-on assets. This recovery extended a multi-week upward trend for digital currencies, bolstered by lower Treasury yields and steady institutional ETF inflows. However, both major tokens surrendered their early intraday gains later in the afternoon following a severe whipsaw in broader bond markets.