The S&P 500 Index rose by 0.27% and the Nasdaq 100 Index reached a new all-time high, up 1.10%, on April 24, 2026. Intel’s stock surged over 22% to a record high after the company forecasted Q2 revenues between $13.8 billion and $14.8 billion, significantly surpassing the $13.04 billion expectation. This optimism is linked to renewed confidence in the economic potential of artificial intelligence for semiconductor manufacturers.
In geopolitical news, Iranian Foreign Minister Abbas Araghchi is set to arrive in Pakistan on Friday for peace talks with the US, following tensions over the Strait of Hormuz where crude oil production has been curtailed by over 50%, according to Goldman Sachs. WTI crude prices decreased by more than 1% amid expectations of a second round of US-Iran negotiations, posing a threat to global energy supplies.
As of today, earnings reports indicate that 81% of 123 S&P 500 companies exceeded Q1 earnings estimates, with an overall projected growth of 12% year-over-year in earnings. However, excluding the tech sector, growth is anticipated to be limited to around 3%, marking the weakest figure in two years.
