President Trump announced that Apple will partner with Intel to design and manufacture chips in the United States, sending Intel shares up 11% to a record high. The partnership comes after Intel's CEO Lip-Bu Tan spent months courting the administration, following the government's acquisition of a 10% stake in the company.

Apple confirmed plans to raise product prices to offset rising memory and storage chip costs. Micron and Sandisk shares jumped 8.7% and 12% respectively on the chip demand news. Meanwhile, investors in four major private-credit funds requested $12 billion in second-quarter redemptions, up from $7.7 billion in the prior quarter.

Central bank divergence continued as the Bank of England held rates steady while Indonesia, the Philippines and Czech Republic raised theirs. The Federal Reserve's rate hold on Wednesday set the tone for cautious global monetary policy amid persistent inflation concerns.

Stock markets rebounded broadly with the Nasdaq gaining 2.4% for the week. Energy prices retreated as Brent crude stayed below $80 a barrel, down 13% monthly, while retail gasoline fell below $4 per gallon for the first time in over two months.