Finance

Intel's stock price surged nearly 24% in a single day after the company reported first-quarter earnings that far exceeded analyst expectations. The chipmaker's optimistic guidance regarding AI-driven demand sparked a broader rally across semiconductor stocks, including significant gains for AMD and Nvidia.

Investors showed cautious optimism as news emerged of potential progress in peace negotiations between the U.S. and Iran in Pakistan. These developments led to a pullback in U.S. crude oil prices, with West Texas Intermediate futures settling near $94 per barrel.

The University of Michigan's consumer sentiment index dropped to record lows in April as Americans grappled with persistent inflation and the impact of the ongoing conflict in the Middle East. Near-term inflation expectations jumped to 4.7%, reflecting significant concerns over rising costs for gasoline and essential goods.

The 10-year Treasury yield finished the week at 4.31%, remaining elevated despite increased expectations for future rate cuts following progress in the confirmation of Kevin Warsh to the Federal Reserve. Resilient economic data, including retail sales and corporate earnings, continue to complicate the case for immediate monetary easing.

Bitcoin rose toward the $80,000 level on April 24, trading around $78,300 as institutional momentum for digital assets continues to build. While the primary cryptocurrency showed strength, analysts noted that some altcoins lagged behind, suggesting a divergence in broader market momentum.