US Stock Market Hits Records Amid Intel Gains and Oil Price Fluctuations

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.

the bond market, the 10-year Treasury yield decreased to 4.30 percent from 4.34 percent. Traders increased bets on potential Federal Reserve interest rate cuts later this year. Justice Department ended its probe into current chair Jerome Powell. Senator Thom Tillis had indicated opposition to Warsh until the investigation concluded.

A University of Michigan survey showed U.S. consumer sentiment weakened in April across various demographics, though it improved slightly after the U.S.-Iran ceasefire announcement earlier in the month. International stock indexes were mixed, with Japan's Nikkei 225 rising 1 percent and France's CAC 40 falling 0.8 percent.

m. AEST.