The ASX declined for the week due to global concerns over prolonged higher interest rates, while Nvidia surged by $US218 billion — here’s what happened.

The ASX followed US markets lower on Friday as concerns about prolonged higher interest rates outweighed ongoing AI optimism in the tech sector, which saw Nvidia’s share price jump by more than 9%.

Look back on our business blog to see how Friday’s events unfolded. From the Bureau of Statistics, we’ll receive the next set of monthly retail trade figures on Tuesday (for April), and the next set of monthly inflation data on Wednesday, along with construction work data for the March quarter and monthly building approvals for April on Thursday.

Additionally, on Thursday, the RBA’s Assistant Governor (Economic), Sarah Hunter, will speak at the Australasian Investor Relations Association annual conference in Sydney.

Until then, take care of yourselves.