Finance

Crude oil futures and heating oil prices slid after the G-7 and European nations agreed to release 100 million barrels of crude and diesel from emergency reserves. Tapped at the request of the Trump administration to address tight fuel markets, the coordinated intervention helped offset geopolitical supply anxieties stemming from Eastern Europe and the Middle East. West Texas Intermediate fell nearly two percent to end the week lower, while Brent crude also faced downward pressure.

The cryptocurrency market found solid ground, with Bitcoin holding steady in the mid-$80,000 range and Ethereum reclaiming the $2,700 threshold. Digital assets caught a tailwind from the soft employment figures, which diminished broader macroeconomic headwinds for high-risk growth assets. The upward momentum was further supported by robust institutional investment sentiment, evidenced by billions of dollars flowing into crypto funds recently.

Micron Technology reported stellar financial results for its fiscal fourth quarter, delivering non-GAAP earnings of $33.42 per share to outpace consensus expectations. Total revenue experienced an unprecedented surge of nearly 380% year-over-year to reach $54.23 billion. The blockbuster growth was heavily driven by tight market conditions for memory components alongside insatiable demand for data center hardware optimized for artificial intelligence applications.