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S&P 500 rises as Intel soars, investors bet on Iran talks restarting: Live updates
The S&P 500 rose Friday after investors were given a hopeful sign that peace talks between the U.S. and Iran would soon take place in Pakistan.
The broad market index traded up 0.4%, while the Nasdaq Composite added 1%. The Dow Jones Industrial Average fell 160 points, or 0.3%, however.
MS NOW reported, citing a Pakistani government official, that the Iranian Foreign Minister Abbas Araghchi is expected to arrive in Islamabad on Friday evening and that U.S.-Iran negotiations are likely to occur. The recent rally in oil prices lost steam following the development. U.S. West Texas Intermediate futures were last trading above $95 per barrel, while international benchmark Brent crude futures were trading above $105 a barrel.
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Tech stocks rise on a mostly subdued Wall Street, while oil prices keep swinging
Options trader Matthew Hefter, center, works on the floor of the New York Stock Exchange, Thursday, April 23, 2026. (AP Photo/Richard Drew)
NEW YORK (AP) — A surge for Intel following a blowout profit report is leading technology stocks higher Friday, while oil prices keep swinging in the wait for what’s next with the Iran war.
The S&P 500 added 0.4% and inched above its all-time high set on Wednesday, even though the majority stocks within the index fell. The Dow Jones Industrial Average was down 168 points, or 0.3%, as of 11 a.m. Eastern time, and the Nasdaq composite was 1% higher.
Intel led the way and is potentially heading for its best day since 1987. It jumped 23.8% after reporting much stronger results for the first three months of the year than analysts expected. CEO Lip-Bu Tan said the next wave of artificial-intelligence technology is increasing the need for Intel’s chips and products, and the company’s forecast for profit in the spring topped analysts’ estimates.
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