Finance

The tech-heavy Nasdaq Composite outperformed other major benchmarks with a 1.2% advance, securing its third consecutive weekly gain and reaching a new all-time high. Heavyweight chipmakers led the sector's surge, with Nvidia gaining over 2% to touch an intraday record high, pushing its market capitalization to $5.72 trillion.

Government borrowing costs stabilised after previously reaching multi-decade highs, with the 10-year Treasury yield easing from a peak of nearly 5.34%. The cooling employment numbers triggered an initial drop in fixed-income yields, offering relief to rate-sensitive areas of the market.

Digital assets experienced positive price movement alongside traditional markets, with Bitcoin rebounding above the $85,000 threshold and Ethereum climbing back past $2,700. The upward momentum triggered substantial short-position liquidations in the derivatives markets, while sentiment was bolstered by constructive economic data and an upgraded financial institution target for Bitcoin.