Finance

Led by strong performance in artificial intelligence and semiconductor firms like Nvidia and Micron Technology, the Nasdaq Composite outperformed the broader markets and notched an intraday record high. For the week, the tech-heavy index managed to lock in positive territory. In contrast, despite Friday's relief rally, the Dow Jones Industrial Average and the S&P 500 finished the weekly trading period with overall losses.

Global energy markets experienced downward pressure after G7 nations agreed to a U.S. request to release 100 million barrels of crude oil and diesel from strategic reserves. The coordinated international move aims to alleviate fuel supply tight spots and ease soaring prices driven by ongoing geopolitical strife in the Middle East. Following the news, West Texas Intermediate futures dropped nearly 2% to finish near $91 per barrel, while Brent crude stabilized just above $102.

Nike shares plummeted following the company's first-quarter earnings report, which missed Wall Street revenue estimates. The major apparel and athletic footwear brand heightened investor caution by forecasting a deeper decline in fiscal year sales than analysts had previously anticipated. The downturn reflects ongoing retail and operational challenges, overshadowing the broader market bounce.