The U.S. stock market reached new milestones on Friday, April 25, 2026, with Intel's shares experiencing their most substantial gain since 1987. This surge was propelled by a blowout profit report for the first quarter of the year, exceeding analysts' expectations. The tech-heavy Nasdaq composite rallied by 1.6%, reaching its own record high, largely driven by Intel's impressive performance. The company's stock soared an astonishing 23.6% following the announcement of its first-quarter results.
Intel CEO Lip-Bu Tan attributed the strong performance to the increasing demand for the company's chips and products, driven by the next wave of artificial-intelligence technology. The company's forecast for spring profits also surpassed analyst estimates, contributing to the positive market sentiment. This wave of strong corporate earnings has been a significant factor in the recent rally across Wall Street, with the S&P 500 climbing nearly 13% in under a month.
While the Nasdaq celebrated a record high, the S&P 500 index also saw gains, climbing 0.8% and surpassing its previous all-time high set earlier in the week. The Dow Jones Industrial Average, however, experienced a slight dip, falling 79 points or 0.2%.
In other market news, Charter Communications saw a significant drop of 25.5% after its quarterly profit fell short of expectations, primarily due to a loss of 120,000 internet customers. Hartford Insurance Group also declined by 3.7% following a report of profit growth that did not meet analyst expectations.
The bond market saw Treasury yields ease, as traders increased their bets on the Federal Reserve potentially resuming interest rate cuts later in the year. This sentiment was further influenced by the U.S. Justice Department ending its probe into the Fed's current chair, Jerome Powell, clearing the path for Trump's nominee, Kevin Warsh, to chair the Federal Reserve.