Finance

A stark divergence between two of the largest technology firms heavily impacted index movements to close out the week. Amazon soared 15% following a highly lucrative quarterly report that showcased accelerating growth in its cloud-computing and artificial intelligence divisions. Conversely, Apple shares plummeted 7.4%, representing a historic single-day loss of approximately $358 billion in market capitalization, after issuing soft forward revenue guidance impacted by supply chain constraints.

U.S. government bond yields extended their upward momentum as fixed-income investors grappled with persistent inflation indicators. The 10-year Treasury note yield rose to 4.743%, hitting its highest mark since early 2025, while the 30-year bond yield climbed to a multi-year high of 5.274%. The market reaction intensified following hawkish commentary and dissenting votes from Federal Reserve officials who favored a benchmark interest rate hike earlier in the week.

Global crude oil prices experienced an aggressive push upward, with West Texas Intermediate trading above $85 per barrel and Brent crude climbing past the $90 milestone. The surge follows heightened conflict and maritime traffic disruptions involving Iran in the strategically crucial Strait of Hormuz. Analysts note that these surging energy costs are exacerbating domestic inflation anxieties and could influence future central bank interest rate policies.