Finance

Intel shares soared nearly 24% to a record high after the company reported quarterly results that exceeded analyst expectations and provided a positive outlook on AI-driven demand. This performance shattered a dot-com era ceiling and helped lift other major chipmakers like AMD and Nvidia.

U.S. Treasury yields eased slightly on Friday after the Justice Department announced it would close its criminal investigation into outgoing Fed Chair Jerome Powell. The 10-year yield finished the day around 4.31%, while the 2-year yield fell to approximately 3.77% as investors anticipated a clearer path for future interest rate policy.

Bitcoin traded near the $78,000 level, approaching a major psychological resistance at $80,000. While momentum has cooled recently, the digital asset has seen gains of nearly 6% over the past week, supported by a resurgence in institutional demand and a general shift toward risk-on assets.

Oil prices remain a point of concern for markets, with Brent crude trading around $105 a barrel due to ongoing conflict and restricted traffic in the Strait of Hormuz. These elevated energy costs contributed to the Dow Jones Industrial Average snapping its three-week winning streak, as cyclical and industrial stocks faced downward pressure.

Both Meta and Microsoft announced significant workforce reductions this week, planning to cut thousands of roles to offset rising capital expenditures related to artificial intelligence. These structural changes come as companies prioritize investments in AI infrastructure over traditional overhead costs.