Finance

The tech-heavy Nasdaq Composite led Wall Street's performance with a 1.2% daily increase, securing its third consecutive weekly gain and touching a fresh record high. Growth in the sector was reinforced by massive artificial intelligence chip companies, including Nvidia, which briefly touched an intraday high, and AMD, which recently crossed into the exclusive $1 trillion market capitalization club.

The broader equity markets experienced downward weekly pressure, leaving the S&P 500 and the Dow Jones Industrial Average down 0.3% and 1.3% respectively over the five-day period. This downward trend was largely fueled by long-term U.S. Treasury yields marching upward to multi-decade peaks, including the benchmark 10-year note hitting its highest intraday mark since 2002 before seeing a slight reprieve following the employment release.

Crude oil futures and commodity markets continue to dictate near-term market sentiment due to unresolved Middle East conflicts and rising manufacturing input costs. Although a temporary correction occurred after an agreement by G-7 nations to release 100 million barrels of emergency stockpiles, geopolitical stalemates and building price pressures keep investors highly cautious heading into the new trading week.