Welcome to Markets Desk, your end-of-week rundown on the stories moving money.
Nvidia closed out the week with its largest single-week gain in market capitalization on record, driven by a combination of renewed institutional confidence and easing export restrictions. The chip giant's rally lifted the broader tech sector and reinforced the market's conviction that AI infrastructure spending remains very much intact.
Shifting to commodities, crude oil settled higher Friday with September West Texas Intermediate closing up roughly one point one five percent, as uncertainty around the reopening of the Strait of Hormuz kept a floor under prices. A weakening dollar, touching a seven-week low, added further tailwind, making dollar-denominated oil cheaper for foreign buyers and amplifying the move.
Meanwhile in the soft commodities pits, sugar staged a remarkable session, with New York world sugar closing up nearly six percent to hit a ten-month nearest-futures high, while London white sugar reached its highest level in eleven months. The rally reflects deepening concern over global production shortfalls, with traders pricing in tighter supply heading into the back half of the year.
That's the tape. Markets Desk, signing off the floor.
