U.S. stocks had a strong week, led by technology.

Stocks edged higher during the week, with value and international stocks leading the way. Oil crossed $100, short-term U.S. Treasury yields climbed, U.S. gross domestic product rebounded, jobs stayed strong, and earnings continued to beat expectations.

Stocks hit record highs despite historic consumer pessimism, oil surged on Middle East tensions, and inflation fears climbed.

Stocks rose as oil prices fell sharply after Iran said the Strait of Hormuz reopened, easing war fears. Inflation stayed high, jobs remained strong, consumers felt squeezed by prices, and housing slowed.

The market moved to a more defensive posture and yields declined as rate cut expectations rose.

Investors rotated into more defensive, value sectors and drove up the price of gold.