Friday’s rebound spared it. But it flinched. And in doing so, it revealed how fragile the current market cycle has become.

U.S. stocks were sharply higher on Friday as traders boosted bets on an interest rate cut by the Federal Reserve next month following remarks from policymakers and as shares of Nvidia rose following a report that the U.

It was shaping up to be a positive end for an otherwise turbulent week for stocks amid broad concerns about the U.S. labor market and whether big tech companies — responsible for much of the market's gains this year — will be able to justify their sizable investments in artificial intelligence.

Nvidia has grown to become the largest stock on Wall Street and briefly topped $5 trillion in value. That means its stock movements carry more weight on the S&P 500 than any other stock, and it can single-handedly steer the index’s direction some days.

The ongoing Bitcoin crash has claimed a major casualty: BlackRock (NYSE: BLK). Yes, the world's largest asset manager recently suffered its worst-ever rout when its spot Bitcoin exchange-traded fund (ETF) saw the largest sell-off in a single day.

The releases will provide key signals for investors after a significant market pullback.

Analysts see demand for high-grade AI hardware from Nvidia increasing in the coming quarters, staying upbeat even as investors fret over the AI trade.