finance
US Stock Market Hits Records Amid Intel Gains and Oil Price Fluctuations
The S&P 500 and Nasdaq reached new highs on Friday, driven by strong earnings from Intel. Oil prices showed volatility amid ongoing U.S.-Iran tensions and ceasefire negotiations. The Australian sharemarket is expected to open flat, with futures indicating a slight decline.
Apr 26, 3:27 PM·2m read1 source
The Sydney Morning HeraldAudio version
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The Nasdaq composite increased 1.6 percent to 24,836.60, also reaching a record. The Dow Jones Industrial Average fell 0.2 percent, or 79.61 points, to 49,230.71. Intel's stock rose 23.6 percent, marking its largest single-day gain since 1987, after the company reported first-quarter results that exceeded analysts' expectations.
CEO Lip-Bu Tan stated that demand for the company's chips and products is growing due to advancements in artificial intelligence technology. The company's profit forecast for the spring also surpassed estimates.
shares increased 2.5 percent following a quarterly profit that beat analysts' expectations. CEO Shailesh Jejurikar reported broad-based growth across regions and products, including Bounty paper towels and Tide detergent. Charter Communications' stock declined 25.5 percent after reporting weaker-than-expected quarterly profit and losing 120,000 internet customers, more than some analysts anticipated.
Hartford Insurance Group's shares fell 3.7 percent due to profit growth that did not meet expectations.
crude oil for June delivery settled at $105.33 per barrel, up 0.2 percent, while the July contract fell 0.2 percent to $99.13. Prices fluctuated amid concerns over the Strait of Hormuz, where tensions between the United States and Iran have restricted oil tanker passages.
A ceasefire between the United States and Iran remains in place, though tensions persist. Iran's top diplomat announced travel to Pakistan for potential negotiations, and White House press secretary Karoline Leavitt stated that President Donald Trump is sending envoys Steve Witkoff and Jared Kushner to meet with Iran's foreign minister.
