Chip stocks surged by 4%, further boosting the rise of the US stock market. The S&P reached a new all-time high, with AMD surging nearly 20% this Thursday, setting new records along with NVIDIA.

The three major US stock indexes all rose more than 1%, with the Dow Jones hitting a new all-time high and reversing the week-long decline with the largest weekly gain in five weeks. Chip stocks hit new all-time highs, with AMD rising over 7%, NVIDIA up over 4%, and a nearly 9% gain for the week. The Nasdaq 100 and Microsoft both hit new all-time highs for two consecutive days. Chinese concept stocks fell for the fifth consecutive day, erasing most of the losses after a more than 2% drop in early trading, with NIO-SW falling over 3% and Alibaba rising 2%. After the announcement of a three-year low in US consumer inflation expectations, the yield on the 10-year US Treasury bond, which had risen for four consecutive days to a one-month high, retraced its gains. The Invesco DB US DLR Index TR Bullish Fund hit a daily low, falling from a one-month high but still rising for three consecutive weeks. The yen rebounded after hitting a seven-week low. The yields on two-year German and US bonds rose more than 20 basis points in a week. Offshore renminbi briefly rose more than 200 points to reclaim 7.20. Crude oil fell from a three-week high but still posted a weekly gain, while US natural gas fell over 20% in a week. Gold rebounded for several days but still posted a weekly decline of over 1%, the largest in six weeks. The FTSE stopped its seven-day rally but still rose nearly 3% for the week, while copper ended its four-week decline and nickel hit a nearly two-year low, falling for three consecutive weeks. Updating in progress.