Finance

Shares of Intel skyrocketed more than 23% following a first-quarter report that exceeded revenue expectations and provided an optimistic outlook for AI-driven demand. This performance represents the stock's best daily gain since 1987 and helped extend a record 18-session winning streak for the broader semiconductor index.

While tech shares rallied, the Dow Jones Industrial Average slipped 0.16% as industrial and blue-chip stocks faced headwinds from ongoing tensions in the Middle East. High oil prices and restricted maritime traffic in the Strait of Hormuz continue to pressure cyclical sectors even as investors hold out hope for renewed peace talks.

The yield on the 10-year U.S. Treasury note held steady at approximately 4.3% as traders evaluated the impact of stalled diplomatic negotiations and domestic political developments. Market focus remains on whether cooling geopolitical tensions could clear the path for the Federal Reserve to consider interest rate cuts later this year.

Cryptocurrency markets saw steady but cautious trading, with Bitcoin hovering around $78,000 as it struggles to break past major psychological resistance. While institutional momentum remains strong, investors are adopting a wait-and-see approach due to elevated energy costs and persistent global supply chain risks.

Despite a slight daily uptick, gold prices were on track for a weekly decline as a firmer U.S. dollar and rising bond yields increased the opportunity cost for non-yielding assets. Heightened inflation concerns driven by energy costs snapped the precious metal's four-week winning streak, bringing prices to approximately $4,721 per ounce.