Record Highs as Tech Strength and US-Iran Talk Hopes Lift Markets

Stocks finished mostly higher Friday, with the S&P 500 and Nasdaq extending their weekly winning streaks and setting fresh records as optimism around potential US-Iran talks helped ease oil-price concerns. Tech led the advance after Intel’s strong results and upbeat AI-driven outlook, while Treasury yields and the dollar edged lower as investors also digested news that the Justice Department closed its probe into Fed Chair Jerome Powell.

Key Headlines & Market Movers:

• US-Iran Negotiation Hopes Ease Oil Pressure: Reports that US envoys Jared Kushner and Steve Witkoff will head to Pakistan for potential direct talks with Iranian officials lifted risk appetite and pushed crude lower, with investors hoping diplomacy could reduce risks around the Strait of Hormuz and broader energy-market disruption.
• Intel Sparks a Broader Chip Rally: Intel surged to a record high after better-than-expected results and a strong forecast tied to AI demand, helping power gains across semiconductor shares including Arm, Qualcomm, AMD, and Nvidia, while broader enthusiasm for global tech and AI remained a key support for equities.

Fed Transition Uncertainty Eases: Treasury yields slipped after the Justice Department closed its criminal investigation into Jerome Powell, a development seen as potentially clearing the path for Kevin Warsh’s confirmation as the next Fed chair and reinforcing expectations for future rate cuts.

S&P 500 Sector Performance

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Looking Ahead

Earnings will remain the main focus next week as five Magnificent Seven companies, Amazon, Alphabet, Meta, Microsoft, and Apple, report results, giving investors a fresh read on AI spending, margins, and demand trends. Markets will also continue watching US-Iran talks, oil prices, and any shift in Fed-rate expectations as record-high equities leave less room for disappointment.

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