Intel carries Wall Street toward another record, while oil prices yo-yo lower
Intel's strong profit report led technology stocks higher, pushing the S&P 500 0.6% closer to its all-time high, while oil prices fluctuated amid tensions between the US and Iran. The Nasdaq composite rose 1.4% thanks to Intel's 20.2% surge.
The S&P 500 climbed 0.6% amid mixed trading on Wall Street, on track to top its all-time high set on Wednesday. Intel led the way, surging 20.2% after reporting stronger-than-expected results for the first three months of the year. The company's forecast for profit in the spring topped analysts' estimates, driven by increasing demand for its chips and products due to the next wave of artificial-intelligence technology. The Nasdaq composite was 1.4% higher thanks to the jump for tech. Oil prices yo-yoed between $103 and $107, with Brent crude down 0.5% at $104.53. Procter & Gamble rose 3.2% after reporting stronger profit, while Charter Communications fell 23.6% due to weaker-than-expected results.
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