US stock markets this week: Nasdaq leads Wall Street rally as AI stocks surge; S&P 500, Dow Jones also up around 1%

US markets closed the week on a strong note, with the S&P 500 gaining about 1% to 7,500.58, the Nasdaq surging over 2.5%, and the Dow Jones rising 0.7% to 51,564.70. The rally was fuelled by easing Middle East tensions after a US-Iran interim agreement resumed oil shipments through the Strait of Hormuz, alongside continued enthusiasm around AI and technology stocks. However, the Federal Reserve maintained a hawkish stance, keeping interest rates at 3.50%-3.75%, which pushed the US dollar index to a one-year high while the 10-year Treasury yield eased to 4.437%.