Finance

While the Dow Jones Industrial Average and the S&P 500 booked overall weekly losses despite Friday's gains, the tech-heavy Nasdaq Composite secured its third straight positive week. Driven by enduring strength in tech equities, the Nasdaq jumped 1.2% in the final session of the week after hitting an all-time intraday record.

Global crude benchmarks remained highly elevated as traders closely monitored ongoing military conflicts in the Middle East. Brent crude fluctuated near $103 per barrel, representing a substantial year-over-year increase, while the United States government reportedly pressured European allies to draw down emergency fuel reserves.

Shares of the athletic apparel manufacturer fell sharply following its first-quarter financial results. Investor sentiment was dragged down after the retail giant projected a more severe downturn in sales for the current fiscal year than analysts had initially expected.