Finance

The Nasdaq Closing Cross handled a record 4.59 billion shares worth $334 billion in just over 1.6 seconds during the semi-annual Russell US Index reconstitution. This massive liquidity event reflects significant shifts in market capitalization and sector dominance across the Russell 1000, 2000, and 3000 indexes.

Recent economic reports show May's PCE price index rose 4.1% year-over-year, matching expectations but remaining well above the Federal Reserve's 2% target. Meanwhile, initial jobless claims fell to 215,000, signaling a resilient labor market that complicates the central bank's path toward potential interest rate adjustments.

Benchmark 10-year U.S. Treasury yields declined to approximately 4.37% on Friday, following a sharp drop in international oil prices. Brent crude fell roughly 3.8% to $72.60 per barrel as supply concerns eased, helping to temper broader inflation expectations among investors.