Intel carries Wall Street toward another record, while oil prices yo-yo lower
The S&P 500 climbed 0.8% to a new record high after Intel's strong profit report, while oil prices fluctuated amid tensions between the US and Iran. Intel's stock soared 23.6% to an all-time high, contributing to the market's rally.
The US stock market reached new records on Friday, driven by Intel's strong profit report. The S&P 500 rose 0.8% to 7,165.08, while the Nasdaq composite rallied 1.6% to 24,836.60. Intel's stock surged 23.6% to an all-time high after the company reported better-than-expected results for the first quarter. The company's forecast for profit in the spring also topped analysts' estimates. Oil prices remained volatile amid tensions between the US and Iran, with Brent crude settling at $105.33. Other companies, including Procter & Gamble and Charter Communications, also reported earnings, influencing the market. The yield on the 10-year Treasury dipped to 4.30% as traders bet on potential interest rate cuts by the Federal Reserve.
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