• Intel shares are testing new highs. Why is INTC stock breaking out?
Oil pulled back roughly 1% after Pakistan signaled that Iran’s foreign minister was heading to Islamabad for possible ceasefire talks, easing some of the energy-driven pressure that had dominated the tape all week.
Across U.S. equity markets by midday Friday, gains were concentrated in megacap tech while cyclicals and health care lagged.
The Nasdaq 100 jumped 1.6% to 27,203, a fresh record high. The S&P 500 rose 0.7% to 7,161, pushing further into record territory, while the Dow Jones Industrial Average slipped 65 points, or 0.1%, to 49,245.
The Russell 2000 added 0.6% to 2,792.
Friday’s Performance In Major U.S. Indices
According to the Benzinga Pro platform:
Chip Stocks Roar Fueled By Intel’s Blockbuster Earnings
The Technology Select Sector SPDR Fund (NYSE:XLK) led all S&P 500 sectors, rising 2.6% as Intel’s earnings beat ignited a broad chip rotation and lifted software and AI-exposed names across the board.
The Energy Select Sector SPDR Fund (NYSE:XLE) slid 1.1% as crude gave back some of its weekly gains.
Intel rocketed 22.6% to $81.90, a fresh record, after Thursday night’s print sharply beat revenue and profit forecasts for the year and reinforced the narrative that Intel is catching a tailwind from AI server demand. The stock is now up 85% month-to-date, on pace for its best month ever.
Month-to-date semiconductor stocks have rallied over 40% — the chip’s best month ever.
Friday’s Russell 1000 Top Gainers
Friday’s Russell 1000 Top Losers
Image created using artificial intelligence via Midjourney.
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