Finance

Robust corporate financial results continue to support the broader market as the second-quarter earnings season winds down with historically high positive surprises. Collaboration software provider Atlassian witnessed a historic single-day spike of 35.3% on strong revenue projections, while vacation rental giant Airbnb climbed 17.4% after exceeding estimates. Conversely, ad-tech firm Trade Desk suffered a steep 21.9% plunge following a weak revenue forecast for the third quarter.

Precious metals experienced their most significant weekly growth in months as softening employment data tempered immediate expectations for central bank tightening. Spot gold prices surged more than 2% on Friday to cross $4,330 per ounce, wrapping up a stellar week with an aggregate gain of over 7%. Silver outperformed gold during the weekly stretch, climbing more than 9.3% and driving down the gold-to-silver ratio.

The aggregate valuation of the digital asset market climbed to $2.9 trillion in early August, up from under $2.2 trillion. Bitcoin spearheaded the positive momentum to cross the $65,300 mark, dismissing short-term regulatory stagnation after the U.S. Senate went on recess without voting on the landmark CLARITY Act. While altcoins like Cardano recorded notable double-digit weekly gains, other major tokens like XRP faced downwards pressure.