(Sharecast News) – The IS&P 500 and Nasdaq raced to record highs on Friday amid growing optimism about US-Iran peace talks this weekend, while the technology sector was boosted as shares of chip giant Intel jumped by nearly a quarter.
The Dow fell 0.2% to 49,230.71, while the S&P 500 jumped 0.8% to 7,165.08 and the Nasdaq rose 1.6% to 24,836.60, helped by Intel’s $415bn market cap.
Market sentiment continues to be dominated by events in the Middle East, with the main focus on Friday being the news that Iran’s foreign minister Abbas Araghchi was expected to arrive in Islamabad on Friday evening for talks with US leaders, according to MSNOW, citing a Pakistani government official.
Meanwhile, the fragile agreement between the US-Israeli alliance and Iran has continued, despite heightened tensions over the Strait of Hormuz, where both sides have seized commercial vessels.
Investors’ concerns have been somewhat shaken by comments from President Donald Trump, who said he would not rush a peace deal. Asked by reporters at the White House about the timing of the war, Trump said: “Don’t rush me.”
However, the president announced that the ceasefire between Lebanon and Israel will be extended for three weeks following talks between the two sides at the White House. Trump said the meeting between Vice President JD Vance, Secretary of State Marco Rubio and the ambassadors of Israel and Lebanon went very well.
Earlier, the University of Michigan’s consumer sentiment index was revised up to 49.8 in April, from an initial estimate of 47.6. However, despite the slight improvement, April’s print remained the weakest reading on record, reflecting the cost of the US and Israel-Iran conflict on consumer behavior.
Intel is on the rise
The share price is Intel ended 24% higher at $82.57 after the semiconductor maker posted stronger-than-expected first-quarter earnings and issued an upbeat outlook after Thursday’s close, with the company highlighting “fundamental” flexibility driven by its transformation efforts and rising demand for AI.
Intel reported Q1 revenue of $13.6bn, up 7% year-on-year and ahead of the $12.4bn expected by analysts. For the current quarter, Intel estimated revenue of $13.8bn to $14.8bn, again above market forecasts.
Meta again Microsoft both rose after it emerged they were preparing to cut thousands of jobs as the world’s two biggest tech companies look to control costs while ramping up investment in AI.
Meta said it plans to cut about 8,000 roles, equivalent to about 10% of its workforce, and will leave about 6,000 vacancies. Microsoft has been taking a different approach, introducing a voluntary layoff plan expected to be offered in early May to about 8,750 workers, or 7% of its US workforce.
Another high was the consumer goods giant Procter & Gamble after exceeding expectations for its third quarter financial results, which showed strong sales growth despite “challenging” market conditions. Net sales were up 7% year-on-year at $21.2bn in the three months to 31 March, beating the 20.5bn expected by analysts and ahead of the 1% annual growth seen in the second quarter.
Dow Jones – Risers
Intel Corp. (INTC) $82.54 21.98%
Salesforce.Com Inc. (CRM) $178.16 2.80%
Procter & Gamble Co. (PG) $148.18 1.70%
Microsoft Corp. (MSFT) $424.62 0.95%
3M Co. (MMM) $145.99 0.79%
Coca-Cola Co. (KO) $76.63 0.46%
International Business Machines Corporation (CDI) (IBM) $231.98 0.39%
Dow Chemical Co. (DOW) $38.66 0.34%
Visa Inc. (V) $309.42 0.17%
Unitedhealth Group Inc. (UNH) $354.92 0.10%
Dow Jones – Fallers
Merck & Co. Inc. (MRK) $111.90 -2.37%
Verizon Communications Inc. (VZ) $46.38 -1.78%
Travelers Company Inc. (TRV) $302.73 -1.50%
American Express Co. (AXP) $314.08 -1.43%
Johnson & Johnson (JNJ) $227.50 -1.37%
Chevron Corp. (CVX) $185.21 -1.27%
Home Depot Inc. (HD) $335.89 -1.26%
JP Morgan Chase & Co. (JPM) $308.28 -1.09%
McDonald’s Corp. (MCD) $299.36 -1.05%
The Walt Disney Co. (DIS) $102.60 -1.03%
S&P 500 – Risers
Intel Corp. (INTC) $82.54 21.98%
Advanced Micro Devices Inc. (AMD) $347.81 14.24%
QUALCOMM Inc. (QCOM) $148.85 9.35%
Newmont Corporation (NEM) $120.70 8.68%
Synopsy Inc. (SNPS) $500.82 7.27%
KLA-Tencor Corp. (KLAC) $1,935.00 6.16%
Edwards Lifesciences Corp. (EW) $84.15 5.56%
Intuit Inc. (PERSONAL) $395.95 4.74%
Southwest Airlines Co. (LUV) $39.45 4.50%
Western Digital Corp. (WDC) $404.00 4.25%
S&P 500 – Fallers
Charter Communications Inc. (CHTR) $180.13 -28.12%
Comcast Corp. (CMCSA) $27.56 -12.40%
HCA Healthcare Inc (HCA) $432.46 -8.77%
Bread Financial Holdings, Inc. (BFH) $86.16 -6.47%
eBay Inc. (EBAY) $97.94 -6.21%
Robert Half Inc. (RHI) $25.61 -5.85%
Boston Scientific Corp. (BSX) $62.07 -5.51%
Tractor Supply Company (TSCO) $36.74 -5.14%
Deere & Co. (DE) $562.64 -4.95%
Mattel Inc. (MAT) $14.54 -4.72%
Nasdaq 100 – Risers
Intel Corp. (INTC) $82.54 21.98%
QUALCOMM Inc. (QCOM) $148.85 9.35%
Synopsy Inc. (SNPS) $500.82 7.27%
KLA-Tencor Corp. (KLAC) $1,935.00 6.16%
Intuit Inc. (PERSONAL) $395.95 4.74%
Western Digital Corp. (WDC) $404.00 4.25%
Micron Technology Inc. (MU) $496.72 3.95%
Baidu Inc. (BIDU) $128.71 3.92%
Adobe Systems Inc. (ADBE) $245.44 3.82%
Amazon.Com Inc. (AMZN) $263.99 3.40%
Nasdaq 100 – Fallers
Charter Communications Inc. (CHTR) $180.13 -28.12%
Qvc Group Inc Series A (QVCGA) $0.34 -13.49%
Comcast Corp. (CMCSA) $27.56 -12.40%
Sirius XM Holdings Inc (SIRI) $26.61 -7.04%
eBay Inc. (EBAY) $97.94 -6.21%
Paychex Inc. (PAYX) $89.82 -2.71%
Biogen Inc (BIIB) $184.38 -2.71%
Liberty Global plc Series C (LBTYK) $11.50 -2.46%
DENTSPLY Sirona Inc. (XRAY) $11.91 -2.30%
Gilead Sciences Inc. (GILD) $130.40 -2.20%
