Despite ongoing volatility, U.S. markets closed the week with notable gains, with the NASDAQ posting its best weekly performance since November 2022. Bank stocks moved higher as earnings season kicked off, buoyed by better-than-expected results from JP Morgan, which helped lift investor confidence. After the closing bell, the Trump administration announced a major trade concession, exempting smartphones, computers, and other consumer electronics from reciprocal tariffs. In commodities, gold surged to fresh record highs, while oil prices rebounded on Friday but still ended lower for the week. Looking ahead, futures suggest a strong start for the ASX 200 when trading resumes on Monday.

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