Nasdaq-100 Surges 5% Weekly to Record 26,247 on Chip Rally, Jobs Beat

The Nasdaq-100 rocketed over 5% for the week ending May 8, closing at a record 26,247.08 (+1.71% Friday), propelled by AI chip strength and a robust April jobs report (115k payrolls vs. 65k expected; unemployment 4.3%). Early-week oil shocks from Strait of Hormuz tensions spiked WTI to $107/bbl before plunging to $93/bbl on U.S.-Iran de-escalation. AMD's Q1 revenue beat ($10.25B +38% YoY, Data Center +57%) and Q2 guide ($11.2B) ignited surges, with Intel (+16% on Apple deal) and Micron (+13%) leading late gains amid subdued VIX near 18.