Finance

Despite a strong Friday performance where the Nasdaq composite gained 1.2% to achieve a fresh intraday record high, the broader markets finished the week on a mixed note. The tech-heavy index logged its third consecutive week of gains, but the S&P 500 and Dow Jones Industrial Average ultimately booked weekly losses of 0.3% and 1.3%, respectively.

The latest soft employment data has led market participants to heavily trim expectations for future central bank tightening, with analysts noting it virtually removes the probability of an interest rate hike later this month. However, Federal Reserve officials continue to warn that inflation remains sticky and sits above their targeted threshold, indicating that the long-term monetary policy trajectory is highly data-dependent.

Digital assets traded higher ahead of the weekend with the broader market exhibiting stable fourth-quarter momentum. Bitcoin successfully established solid support over the $84,000 threshold to touch intraday highs above $86,000, while Ethereum demonstrated corresponding strength by maintaining its position near $2,700.