Both the S&P 500 (SPX) and the Nasdaq 100 (NDX) are trading higher on Friday, with the latter reaching a new intraday all-time high of 27,107.
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Trade QQQ with leverageFollowing a decline on Thursday from reignited fears of AI disruption, the tech sector is recovering today on the heels of a blowout earnings report from Intel (INTC). The chipmaker topped its dot-com era high and is set for its best day since October 1987. AMD (AMD), Micron (MU), and Lam Research (LRCX) are all trading higher in sympathy.
Araghchi Diplomacy Tour Raises Hopes for Negotiations
Elsewhere, Iranian Foreign Minister Abbas Araghchi is set to arrive in Islamabad today, although it’s unclear whether he will engage with U.S. officials. Araghchi will also travel to Muscat and Moscow to discuss the ongoing U.S.-Iran war.
Still, Pakistani officials communicated that they expect a second round of negotiations between the two sides to occur without specifying a timetable. Brent crude oil futures (BZ) briefly traded lower on the news but have since climbed higher.