Nasdaq 100 Hits Record, Intel Soars Amid Hormuz Risks
US stock indexes mostly rose on Friday (April 24th), with the Nasdaq 100 rising around 1% and hitting a new record. The S&P 500 edged higher, while the Dow fell, reflecting divergent performance across sectors amid persistently high energy costs.
Market sentiment remains influenced by geopolitical risks related to the US-Iran relationship and the Strait of Hormuz blockade. However, signals from Pakistan that the Iranian delegation is open to talks over the weekend helped ease concerns of escalation, although the blockade is said to be ongoing.
The main driver came from the earnings season, particularly high-beta AI stocks. Intel surged 25% to a new record after posting strong performance and beating sales and profit expectations for the year, reinforcing the perception that AI-related demand remains solid.
Intel's gains spread to other AI stocks, helped by strong results from SAP in Germany, which further supported global technology sentiment. Amazon, Nvidia, and Palantir each rose more than 2%, while Procter & Gamble added more than 3% after beating sales projections and reaffirming its full-year guidance. (gn)
Source: Newsmaker.id
