S&P 500, Nasdaq close at records, boosted by Intel, as investors hope for a restart to U.S.-Iran talks

The S&P 500 and Nasdaq Composite hit new closing highs on Friday.

The broad-based index added 0.8% to reach 7,165.08, while the tech-heavy Nasdaq gained 1.63% to 24,836.60.

The Dow Jones Industrial Average shed 79.61 points, or 0.16%, to 49,230.71.

— Sean Conlon

While investors on Friday were hopeful that the Iranian foreign minister heading to Islamabad could lead to future progress on stalled peace negotiations between the U.S. and Iran, more gains for the market may be dependent on developments actually coming to fruition, according to Emmanuel Cau, head of European equity strategy at Barclays.

“President Trump’s evident desire to find a ramp off may keep market tilted towards de-escalation, and along with steady start to earnings season, this should provide a floor to equities, for now. However, further melt-up seems unlikely absent a decisive breakthrough in negotiations,” Cau wrote in a note dated Friday.

— Sean Conlon

The Intel logo is displayed on a sign in front of Intel headquarters in Santa Clara, California, on July 16, 2025.

Justin Sullivan | Getty Images

Retail investors are collecting profits on Intel as the stock surges following a strong earnings report, according to VandaTrack.

The firm found that small investors have net bought $2.6 billion worth of the chipmaker’s shares since Sept. 1. The average retail investor’s stake has jumped around 90% since then, Vanda found.

“Retail investors have been among the smarter money in Intel of late,” the firm wrote in a Friday note. “They started piling in from the beginning of [September] last year … and haven’t looked back.”

Mom-and-pop traders have sold more than $18 million worth of Intel amid Friday’s rally, Vanda said. Intel climbed to an intraday high after reporting better-than-expected earnings.

“Hard to begrudge them,” Vanda said. “Most have made a pretty tidy return.”

— Alex Harring

On Friday, 25 stocks in the S&P 500 traded new 52-week highs.

Names that hit this milestone included:

• Amazon.com trading at all-time high levels since back to its IPO in May 1997
• Applied Materials trading at all-time high levels back to its IPO in October 1972
• Advanced Micro Devices trading at all-time high levels back to its IPO in September 1972
• Intel Corporation trading at all-time highs back to its IPO October 1971
• KLA Corporation trading at all-time highs, back to KLA Instruments’ IPO in in 1980
• Lam Research trading at all-time high levels back to its IPO in May 1984
• Monolithic Power Systems trading at all-time highs back to its IPO in November 2004
• Micron trading at all-time highs back to IPO in June 1984
• Globe Life trading at all-time high levels back to when Torchmark Corp was initially formed in 1980
• Norfolk Southern (NSC) trading at all-time high levels back to its IPO in 1982

The three stocks trading at new 52-week lows were: Tractor Supply, Insulet and Cognizant Technology.

— Lisa Kailai Han and Christopher Hayes

NVIDIA CEO Jensen Huang gestures during the NVIDIA GTC global AI conference in San Jose, California, U.S. March 17, 2026.

Carlos Barria | Reuters

Chipmaker giant Nvidia crossed the $5 trillion market cap threshold again on Friday, nearly six months after it first did it on Oct. 29.

The stock was up 5% in midday Friday trading, and was on-pace to hit an all-time closing high, breaking through its previous one of 207.04 that it also hit on Oct. 29. Nvidia was still trading below its all-time intraday high of 212.19, though.

Investors on Friday had their faith reignited in the artificial intelligence trade after Intel’s massive earnings. Chipmakers were one of the beneficiaries, with other names like Advanced Micro Devices up 13% and Qualcomm up 10%.

Nvidia since Oct. 28, 2025 chart.

Kam Ghaffarian, founder and chairman of X-Energy, center, and J Clay Sell, chief executive officer of X-Energy, center right, during the company’s initial public offering (IPO) at the Nasdaq MarketSite in New York, US, on Friday, April 24, 2026.

Michael Nagle | Bloomberg | Getty Images

Advanced nuclear reactor company X-energy began trading Friday as the AI boom and electrification broadly spark a flurry of interest in the nuclear industry.

The stock opened at $30.11, after upsizing its initial offering, pricing at $23 per share — ahead of the initial range of $16 – $19 per share. The company raised more than $1 billion, making it the largest nuclear public offering on record. Shares last traded 32% higher. Read more.

X-energy shares, 1-day

A Comcast Business work truck is seen on April 23, 2026 in Miami, Florida.

Joe Raedle | Getty Images

Check out the companies making the biggest moves in midday trading:

• Comcast, Charter Communications — The NBCUniversal parent tumbled nearly 8% after a Deutsche Bank downgrade to hold from buy. Analysts at the bank said that, “there’s visibility into a return to sustainable revenue, EBITDA, and [free cash flow] growth; we do not expect to see multiple expansion as these multiples/yields are appropriate for a stable, but not growing, business.” Comcast also followed Charter Communications, which fell 23% after reporting a 120,000 quarter-over-quarter decline in internet subscribers
• Eli Lilly — The pharmaceutical company’s stock slumped nearly 4% after Iqvia data on the first full week of Foundayo prescriptions was released and showed a soft start to the GLP-1 pill’s launch. Truist analysts said it is still early days, but it’s possible Wegovy’s brand recognition had helped its launch. Novo Nordisk shares jumped 5% in reaction.
• HCA Healthcare — The hospital operator’s stock tumbled more than 7% after it said a milder flu season resulted in fewer patient admissions. The company was able to narrowly top analyst profit estimates and reiterated its forecast for the year. However, investors are worried fewer patients will seek care as Affordable Care Act subsidies phase out, or uncompensated care costs will rise.

Read here for the full list of names.

— Christina Cheddar Berk and Davis Giangiulio

People visit a Lockheed Martin booth displaying a model of a military transport plane during an arms fair, in Hanoi, Vietnam, on Dec. 19, 2024.

Khanh Vu | Reuters

Northrop Grumman and Lockheed Martin, two of the largest prime defense contractors in the U.S., are extending their losses to a ninth day. Since April 13, Northrop is down 16% through midday Friday while Lockheed is lower by 18%.

“Both companies reported this week,” Don Bilson, head of event-driven research at Gordon Haskett wrote on Friday. “NOC’s report was relatively clean, but its investors now have to worry about an uptick in near-term CapEx. Less impressive was LMT’s update, which was a garden variety ‘miss.'”

President Trump firing Secretary of the Navy John Phelan on Wednesday didn’t help sentiment toward the prime contractors either. “This week’s sacking points to a bigger issue that should worry executives and that is Trump’s demand for accountability when production timelines don’t square with what he wants,” Bilson wrote. “This issue has been simmering for a year and when it comes to this space, Trump is the only ‘activist’ that is worth watching. Phelan is Trump’s friend and if that friendship wasn’t enough to save him, think what could happen to those who don’t have a personal connection,” the analyst wrote.

Lockheed vs Northrop in 2026

A shopper carries a Victoria’s Secret and Garage bag in Walnut Creek, California, US, on Thursday, Feb. 5, 2026.

David Paul Morris | Bloomberg | Getty Images

Consumer sentiment held at record-low levels in April even as a ceasefire took hold in the Middle East, according to a University of Michigan survey Friday.

The school’s Survey of Consumers showed the sentiment gauge at 49.8, slightly above the initial April reading of 47.6 and better than the Dow Jones consensus estimate for 48.6. However, the reading marked a 6.6% decline from a month ago and a 4.6% decrease from the same time a year ago, and is the lowest on record.

The university runs the survey twice a month, the first being the early-month sentiment and the second a mid-month gauge.

“After the two-week cease-fire was announced and gas prices softened a touch, sentiment recovered a modest portion of its early-month losses,” said survey director Joanne Hsu.

Inflation expectations in the near term remain elevated, with consumers seeing prices up 4.7% a year from now.

— Jeff Cox

Jeanine Pirro, US attorney for the District of Columbia, speaks during a news conference at the Department of Justice (DOJ) in Washington, DC, US, on Friday, Feb. 6, 2026.

Aaron Schwartz | Bloomberg | Getty Images

The Department of Justice is dropping its criminal probe into the Federal Reserve building renovation project, U.S. Attorney Jeanine Pirro said Friday.

Instead of continuing its look into the case, Pirro said on X that the department has asked the Fed’s Office of Inspector General to look into “building costs overruns – in the billions of dollars – that have been borne by taxpayers.”

“Accordingly, I have directed my office to close our investigation as the IG undertakes this inquiry. Note well, however, that I will not hesitate to restart a criminal investigation should the facts warrant doing so,” she added.

The decision potentially opens the door for Kevin Warsh to be confirmed as the next Fed chair to succeed Jerome Powell.

— Jeff Cox

The iShares Semiconductor ETF was up nearly 4% in morning trading, pacing for its 18th straight session in the green. That’s worrying, according to Wolfe Research.

“We love nothing more than a bullish trend with strong momentum,” wrote analyst Rob Ginsberg in a Thursday note. “But sometimes we have to acknowledge when price has moved too far, too fast—and that its ascent may be unsustainable. Semiconductors are a perfect example.”

Chip stocks again surged on Friday in premarket trading after Intel’s big earnings report on Thursday after the bell. But Ginsberg noted that the State Street SPDR S&P Semiconductor ETF as of Thursday’s close had a relative strength index reading of 85, which typically isn’t sustainable.

A relative strength index reading above 70 indicates an overbought situation in a market. That may be a sign the semis rally is closer to the end than its beginning.

The iShares Semiconductor ETF since March 30, 2026.

U.S. equities began Friday’s session in the green.

The S&P 500 rose 0.3%, while the Nasdaq Composite gained 0.7%. The Dow Jones Industrial Average added 43 points, or 0.1%.

— Sean Conlon

Traders signal offers in the S&P options trading pit at the Cboe Global Markets exchange on March 31, 2026 in Chicago, Illinois.

Scott Olson | Getty Images

Something interesting is happening in the options market.

The S&P 500 touched record highs Thursday morning, but the Cboe Volatility Index (VIX) remained stuck near 20 and is up from five days ago, when the S&P traded about 100 points lower.

In other words, stocks went up and so did the market’s so-called fear gauge.

The VIX and S&P do move in tandem about 20% of the time, but if a `VIX-up/Stocks-up’ environment lingers for more than a few days it means a few things are likely happening under the surface of the market.

One explanation is simply that investors are doubtful of new highs in stocks and hedging against risks like the Iran war and crude oil. If that’s the case, traders should be wary of near-term pullbacks in the index as realized volatility “catches up” to VIX. Read more.

— Oliver Renick

Oil prices fell Friday on a report that Iranian Foreign Minister Seyed Abbas Araghchi will arrive in Pakistan for peace talks.

A Pakistani government source told Reuters that Araghchi is expected to arrive in Islamabad tonight and peace talks with the U.S. will likely happen. Read more.

WTI vs. Brent crude futures, 1-day

Check out the companies making the biggest moves premarket:

• Intel — Shares nearly 27% after the chipmaker posted first-quarter earnings that beat Wall Street’s expectations. Intel posted adjusted earnings of 29 cents per share on revenue of $13.58 billion, while analysts polled by LSEG had expected it to earn 1 cent per share on $12.42 billion in revenue. Intel’s second-quarter forecast also was well above analysts’ expectations.
• Procter & Gamble — The consumer goods giant popped more than 3% on better-than-expected results for the fiscal third quarter. Procter earned an adjusted $1.59 per share on revenue of $21.24 billion. Analysts polled by LSEG expected a profit of $1.56 per share on revenue of $20.5 billion.
• Advanced Micro Devices — Shares surged nearly 12% after investors gained renewed faith in the AI trade after Intel’s earnings and the company got an upgrade from DA Davidson. The firm said Intel’s big earnings are a pre-cursor for a big ramp up in the company’s CPU business.

Read here for the full list.

— Davis Giangiulio

Correction: A previous version misstated Procter’s earnings per share for fiscal Q3.

Gillete products are displayed on a shelf in a supermarket in Sarajevo, Bosnia and Herzegovina October 29, 2024. REUTERS/Dado Ruvic

Dado Ruvic | Reuters

The consumer goods giant popped more than 3% on better-than-expected results for the fiscal third quarter. Procter earned an adjusted $1.63 per share on revenue of $21.24 billion. Analysts polled by LSEG expected a profit of $1.56 per share on revenue of $20.5 billion.

Procter’s beauty, grooming, health care, fabric and home care, and baby and family segments all saw revenue that beat the Street.

PG 5-day chart

European stock markets traded lower on Friday amid ongoing uncertainty over the direction of peace negotiations in the Middle East.

The pan-European Stoxx 600 was more than 0.8% lower by 11:00 a.m. in London (6:00 a.m. E.T), with most sectors in negative territory.

The oil and gas sector was the standout performer, advancing 1.2% in morning trade, boosted by a rebound in energy prices. Brent crude, the international oil benchmark, rose 2.2% to reach $107.40 a barrel.

All of the region’s main bourses were in the red, with France’s CAC 40 leading the losses, down 1.1%.

U.S. President Donald Trump announced a three-week extension to the Israel-Lebanon ceasefire on Thursday, while the Strait of Hormuz remains in a naval standoff.

— Hugh Leask

Fri, Apr 24 20263:26 AM EDT

Japan’s Nikkei 225 rose 0.97% to end the trading day at 59,716.18, while the Topix closed relatively flat at 3,716.59 after core inflation in Japan accelerated for the first time in five months, rising to 1.8% in March, with the Iran war fueling energy worries.

Government data showed the inflation figure — which strips out prices of fresh food — was in line with the 1.8% expected by economists polled by Reuters, and was higher than the 1.6% seen in February.

South Korea’s Kospi ended the trading day flat at 6,475.63 while the small-cap Kosdaq was up 2.51% to 1,203.84.

Hong Kong Hang Seng index declined 0.16%, while the CSI 300 lost 0.35% to 4,769.37.

In Australia, the S&P/ASX 200 was down 0.08% to 8,786.5.

— Lee Ying Shan

Thu, Apr 23 20269:39 PM EDT

Asia-Pacific markets opened mixed as investors remained cautious despite a three-week extension of the Israel-Lebanon ceasefire, underscoring lingering geopolitical uncertainty.

Japan’s Nikkei 225 rose 0.71% while the Topix rose 0.30% after core inflation in Japan accelerated for the first time in five months, rising to 1.8% in March, with Iran war fueling energy worries.

Government data showed the inflation figure — which strips out prices of fresh food — was in line with the 1.8% expected by economists polled by Reuters, and was higher than the 1.6% seen in February.

South Korea’s Kospi fell 0.23%, while the small-cap Kosdaq was up 1%.

Hong Kong Hang Seng index declined 0.61%, while the CSI 300 lost 0.28%.

In Australia, the S&P/ASX 200 was down 0.29%.

— Lee Ying Shan

Thu, Apr 23 20266:26 PM EDT

These are the stocks moving the most in extended-hours trading:

• Intel — Shares soared 19% after the chipmaker posted first-quarter earnings that beat Wall Street’s expectations.
• SAP — The software stock popped 7% after the company earned $1.72 per share, excluding items, in its latest quarter, beating the expected $1.69, per LSEG.
• Boyd Gaming — The gambling and hospitality stock slipped 5% after Boyd posted first-quarter adjusted earnings of $1.60 per share, below the $1.73 consensus from LSEG.

Read the full list of stocks moving here.

— Lisa Kailai Han

Thu, Apr 23 20266:22 PM EDT

US President Donald Trump is seen in the Oval Office of the White House in Washington, DC, on April 23, 2026.

Brendan Smialowski | AFP | Getty Images

In a Thursday Truth Social post, President Donald Trump announced that Israel and Lebanon had agreed to extend their ceasefire by three weeks.

The decision came after a meeting in the White House with top U.S. officials.

“The Meeting went very well!” Trump wrote.

“The United States is going to work with Lebanon in order to help it protect itself from Hezbollah,” he added, referring to the Iran-backed militia group.

— Kevin Breuninger and Lisa Kailai Han

Thu, Apr 23 20266:02 PM EDT

Stock futures were little changed on Thursday evening after President Donald Trump announced a three-week extension to the Israel-Lebanon ceasefire.

S&P 500 futures were unchanged, while Nasdaq Composite futures rose 0.3%. Dow futures fell 73 points, or nearly 0.2%.

— Lisa Kailai Han

Correction: The iShares Semiconductor ETF (SOXX) posted its 17th positive session in a row on Thursday. A previous version of this story misstated the name of the fund setting this milestone.