The cooling job market and the end of interest rate hikes have stabilized the situation! The US stock and bond markets are in a frenzy, with major stock indices achieving their best weekly performance in a year on Wednesday. Chinese concept stocks are also surging.

The NASDAQ Composite Index rose for five consecutive days, with a weekly gain of over 6%, reversing three weeks of decline. After the earnings report, Apple's stock briefly fell more than 2%. Chip, AI concept stocks, and Chinese concept stocks outperformed the market for two days, with the chip index rising more than 2%. AMD and Qualcomm both saw cumulative gains of over 10% for the week. C3.ai closed up nearly 5%. The Chinese concept index rose 3%, NIO-SW rose more than 5%, and PDD rose 5%. European stock indices rose for five consecutive days, with a weekly gain of over 3%, the largest increase in seven months. Maersk fell nearly 17% after the earnings report. After the employment report, US bond yields plunged, with the 10-year yield hitting a one-month low, dropping more than 10 basis points for three consecutive days during trading hours. The 2-year yield briefly dropped nearly 20 basis points to a two-month low. The US dollar index fell more than 1% during trading hours, hitting a six-week low and the largest weekly decline in over two months. The Japanese yen regained and held the 150 level, with the Bank of Japan's decision causing a thrilling turnaround. Offshore renminbi rose 400 points during trading hours, breaking above 7.29 for the first time in three weeks. Crude oil fell for two consecutive weeks, with US oil approaching a two-month low and falling nearly 6% for the week. Gold rebounded for several consecutive days, approaching a three-month high, and has risen for four weeks since the Israeli-Palestinian conflict.