Finance

Fueled by the drop in interest rate expectations, the tech-heavy Nasdaq Composite led Wall Street's gains with a 1.2% jump, setting a new intraday record high and securing its third consecutive positive week. Meanwhile, the S&P 500 rose 0.7% and the Dow Jones Industrial Average added 0.5%, although both the S&P 500 and Dow booked net losses for the full week due to early losses driven by high borrowing costs.

Semiconductor and AI infrastructure firms strongly supported the broader market rally, with Nvidia briefly reaching a fresh all-time high of $237.88 per share, lifting its total market capitalization beyond $5.7 trillion. Concurrently, memory manufacturer Micron Technology reported massive growth in its fourth-quarter fiscal 2026 earnings, posting non-GAAP earnings of $33.42 per share driven by tight pricing conditions and an exponential expansion in data center product revenues.

Digital assets experienced positive momentum as Bitcoin consolidated well above the $86,000 mark and Ethereum rebounded over $2,700 following the cooling macroeconomic indicators. Market optimism was further boosted as Bitcoin triggered a rare long-term "golden cross" technical indicator using its 30-day and 365-day moving averages, which historical patterns suggest could pave the way for a strong fourth-quarter performance.