Intel helped brighten a market clouded by war anxiety, pushing Nasdaq to its fifth record close of the year.
Intel was the best performer in the the S&P 500, which rose 0.8% and also closed at a record. Other tech stocks also showed strength, with Nvidia rising 4.3% to its first record since October Amazon.com moved 3.5% higher.
Other parts of the market struggled. The Dow industrials slipped 0.2%., and six out of the 11 S&P sectors declined including financial and health-care stocks.
The Justice Department meanwhile said it would end its criminal investigation of Federal Reserve Chair Jerome Powell, clearing the obstacle that has stalled Kevin Warsh’s confirmation as his successor. Treasury yields were slightly lower, with the 2-year note yielding 3.775%.
Concern over Middle East peace talks have weighed on markets. Friday, a White House official said Steve Witkoff and Jared Kushner will go to Islamabad for talks with Iranian officials. Oil prices ended the day mixed with Brent crude adding 0.2% to $105.33 a barrel and U.S. benchmark crude-oil slipping 1.5% to $94.40.
