Both the S&P 500 ETF (SPY) and the Nasdaq 100 ETF (QQQ) secured new all-time highs on Friday ahead of a potential second round of negotiations between the U.S. and Iran.
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News That Moved the Stock Market Today
- An Iranian delegation led by Foreign Minister Abbas Araghchi touched down in Islamabad, Pakistan as part of a regional tour that also includes Muscat and Moscow.
- President Trump dispatched special envoys Steve Witkoff and Jared Kushner to meet with the delegation and Pakistani mediators. The pair will depart the U.S. on Saturday morning.
- Iran denied any intention of engaging in talks with the U.S., according to the semi-official Tasnim news agency.
- Pakistani mediators will first meet separately with officials from the two sides. If talks progress, the U.S. and Iran could hold a direct meeting later on, Pakistani government officials told ABC News.
- The Index of Consumer Sentiment fell to an all-time low of 49.6 in April amid concerns about the U.S.-Iran war and rising energy prices.
- The Department of Justice (DOJ) dropped its investigation into Fed Chair Jerome Powell, clearing the path for Trump nominee Kevin Warsh to receive Senate confirmation.
- Intel (INTC) skyrocketed after delivering an upbeat earnings report. Shares of the semiconductor company hit a record high, surpassing their dot-com-era peak.
- AMD (AMD) reached a new all-time high after D.A. Davidson raised its price target to $375 and labeled Intel’s earnings report as a “precursor for a huge step-up for AMD’s CPU franchise.”
- Meta Platforms (META) announced a multi-year agreement with Amazon (AMZN) to purchase its Graviton chips.