S&P 500 and Nasdaq hit records
- The S&P 500 and Nasdaq closed at fresh records on Friday, April 24, while the Dow slipped, as Intel’s post-earnings surge powered a broad semiconductor rally and kept technology stocks leading Wall Street. - The S&P 500 finished at 7,165.08 and the Nasdaq at 24,836.60; Intel jumped 23.6% for its best day since 1987 after forecasting June-quarter revenue well above analyst estimates. - The rally came after markets recovered from the February Iran shock and as chip earnings tied to artificial-intelligence spending kept lifting risk appetite. (reuters.com)
The S&P 500 and Nasdaq ended Friday, April 24, at record highs, with Intel’s earnings-fueled jump carrying semiconductor stocks higher. (cnbc.com) The S&P 500 rose 0.8% to 7,165.08 and the Nasdaq Composite gained 1.63% to 24,836.60, while the Dow Jones Industrial Average fell 79.61 points to 49,230.71. Both the S&P 500 and Nasdaq also set fresh intraday highs. (cnbc.com) Intel surged 23.6% on Friday after reporting first-quarter revenue of $13.58 billion, above the $12.42 billion expected by analysts tracked by LSEG. The company said June-quarter revenue should land between $13.8 billion and $14.8 billion, versus a $13.07 billion consensus. (cnbc.com 1) (cnbc.com 2) That forecast pushed the Philadelphia Semiconductor Index up 3.2% to another record and extended its winning streak to 18 straight sessions. Reuters reported the chip index is up more than 47% in 2026. (reuters.com) The move marked a change in leadership inside the artificial-intelligence trade. Reuters said Intel’s outlook reinforced demand for central processing units, or CPUs, the chips that handle general computing tasks as AI systems answer user queries. (reuters.com) (cnbc.com) Intel said its data-center revenue climbed 22% to $5.1 billion, a sign the company is gaining ground after trailing Nvidia and Advanced Micro Devices in earlier phases of the AI boom. Chief executive Lip-Bu Tan said customer demand is shifting back toward CPUs for newer AI workloads. (cnbc.com) The records also capped a fast recovery for U.S. equities after the market selloff tied to the U.S.-Iran conflict that began on February 28. Reuters reported the S&P 500 had fallen as much as 9% during that shock before reclaiming its January peak on April 15. (reuters.com) Friday’s session got an added lift from signs that U.S.-Iran talks could restart in Islamabad, which helped oil pull back from recent highs. CNBC reported traders were also looking through the geopolitical headlines and back to earnings and growth. (cnbc.com) For now, the tape is saying the same thing in two places at once: chip demand remains strong, and investors are still willing to pay for that growth even with war risk and oil volatility in the background. (reuters.com) (cnbc.com)
