Nasdaq Hits Record High as Intel Powers Chip Rally
U.S. stocks climbed on Friday as Intel shares jumped over 23 percent following a strong revenue forecast. Renewed hopes for peace talks helped markets recover.
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The S&P 500 and the Nasdaq Composite climbed on Friday, with the tech-heavy index reaching a new intraday record as geopolitical tensions showed signs of easing and semiconductor stocks staged a massive rally. Markets found relief in reports that the foreign minister of Iran was traveling to Pakistan to discuss potential peace negotiations with the United States.
