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Barchart
Rich Asplund

S&P 500 and Nasdaq Post Record Highs on Tech Stock Strength and Iran Diplomacy

Nasdaq US Federal Reserve Iran Powell Warsh SP United States DOJ Dow Jones Industrial Average ECB

The S&P 500 Index ($SPX) (SPY) on Friday closed up +0.80%, the Dow Jones Industrial Average ($DOWI) (DIA) closed down -0.16%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed up +1.95%.  June E-mini S&P futures (ESM26) rose +0.72%, and June E-mini Nasdaq futures (NQM26) rose +1.86%.

Stock indexes settled mostly higher on Friday, with the S&P 500 and Nasdaq 100 posting new all-time highs.  Intel rose more than +23% to a record high to lead chipmakers higher after forecasting Q2 revenue of $13.8 billion to $14.8 billion, well above expectations of $13.04 billion.  The surge in Intel has reignited optimism over the economic potential of artificial intelligence for semiconductor manufacturers.  Software stocks also rallied on Friday, adding to the bullish momentum.

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