The S&P 500 Index closed up 0.80% on Friday, marking a new all-time high, while the Nasdaq 100 surged 1.95%, driven largely by Intel’s impressive forecast. Intel’s stock soared over 23% after projecting Q2 revenues between $13.8 billion and $14.8 billion, significantly outpacing expectations. This surge has revitalized investor confidence in the semiconductor sector, particularly regarding the economic potential of artificial intelligence, as software stocks also rallied.

The broader market sentiment was bolstered by optimism surrounding U.S.-Iran talks, which helped maintain gains despite mixed performance in other indexes, such as the Dow Jones, which dipped 0.16%. Additionally, the DOJ’s decision to drop its investigation into Fed Chair Powell contributed to a decline in bond yields, further supporting stock performance. With 80% of S&P 500 companies beating Q1 earnings estimates and a projected 12% year-over-year earnings growth, the outlook remains positive.

Market professionals should note that the strong earnings momentum and easing geopolitical tensions could sustain bullish sentiment in the near term, particularly in tech and semiconductor stocks.

Source: nasdaq.com