Tech stocks rise on a mostly subdued Wall Street, while oil prices keep swinging
The S&P 500 added 0.2% and inched near its all-time high, led by a 24.3% surge in Intel following a strong profit report. Oil prices swung between $103 and $107 per barrel amid tensions between the US and Iran.
The S&P 500 rose 0.2% and neared its all-time high, despite most stocks within the index falling. Intel led the gain, surging 24.3% after reporting stronger-than-expected results for the first quarter. The company's forecast for profit in the spring also topped analysts' estimates. The Dow Jones Industrial Average fell 177 points, or 0.4%, while the Nasdaq composite rose 0.7%. Oil prices remained volatile amid tensions between the US and Iran, with Brent crude trading at $105.09 per barrel. Procter & Gamble rose 3.7% after reporting stronger profit, while Charter Communications fell 19.6% due to weaker-than-expected results.
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