Intel helps carry Wall Street to another record, while oil prices swing amid uncertainty over Iran
The S&P 500 climbed 0.8% to a new record high on Friday, driven by a 23.6% surge in Intel's stock after the company reported stronger-than-expected profit. Oil prices fluctuated amid uncertainty over the Iran conflict, with Brent crude settling at $105.33 per barrel.
The US stock market reached new records on Friday, with the S&P 500 climbing 0.8% and topping its prior all-time high. Intel's stock soared 23.6% after the company reported stronger-than-expected profit for the first three months of the year. The company's forecast for profit in the spring also topped analysts' estimates. Oil prices fluctuated amid uncertainty over the Iran conflict. Brent crude settled at $105.33 per barrel. The S&P 500 rose 56.68 points to 7,165.08, while the Nasdaq composite rallied 398.09 to 24,836.60. Treasury yields eased as traders bet on possible Federal Reserve interest rate cuts later this year.
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