Live Markets: Nasdaq ends sharply higher as Intel fuels chip rally

Intel

Yesterday 21:22

Main US indexes end green; Nasdaq jumps 1.9%
Tech, up >2%, leads S&P 500 sector gainers; Energy weakest group
Dollar rallies ~0.4%; US crude ~flat; gold off ~1%; bitcoin off ~2%
US 10-year Treasury yield edges down to ~4.45%
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NASDAQ ENDS SHARPLY HIGHER AS INTEL FUELS CHIP RALLY
U.S. stocks ended sharply higher, capping a shortened, volatile trading week as investors reacted to a Washington and Tehran peace deal while growing more concerned about future interest-rate hikes.
The PHLX chip index .SOX climbed 6.4% on Friday to a record high. Intel INTC.O rallied almost 11% to all-time highs after U.S. President Donald Trump said Apple AAPL.O agreed to work with Intel to design and manufacture its chips in the U.S. 
Apple and Intel did not immediately respond to Reuters' requests for comment.
Oil prices dipped to their lowest since early March after the U.S. and Iran signed an interim agreement that extends the April ceasefire by 60 days. 
The S&P 500 .SPX ended 1.1% higher, while the Nasdaq .IXIC jumped 1.9%.
Wall Street's major indexes tumbled on Wednesday as investors priced in the likelihood of Fed rate hikes, after the central bank's new Chair Kevin Warsh underscored the need to curb inflation and other policymakers signaled higher borrowing costs ahead.
SpaceX SPCX.O fell 3.6%, down for a second straight day as it ended its first week on the U.S. stock exchange.
 The S&P 500 rose 0.9% for the week, putting the benchmark up almost 10% so far in 2026.
The U.S. stock market will be closed on Friday for the Juneteenth holiday. 
Final snapshot:
(Noel Randewich)
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EARLIER ON LIVE MARKETS:
SPACEX DESCENDS FOR SECOND DAY, BUT ITS REVENUE MULTIPLE REMAINS IN STRATOSPHERE CLICK HERE
INVESTOR SENTIMENT BRIGHTENS, THOUGH BEARS REMAIN ELEVATED - AAII CLICK HERE
FED HANGOVER: JOBLESS CLAIMS, PHILLY FED, LEADING ECONOMIC INDEX CLICK HERE
WALL STREET RISES AS TECH, CHIPS RALLY CLICK HERE
FROM DROUGHT TO DELUGE: UBS PREDICTS RECORD US EQUITY ISSUANCE CLICK HERE
CRUDE BREAKS DOWN, TESTS SUPPORT AS BEARISH TREND BUILDS CLICK HERE
HALF TIME IN EUROPE, MINERS IN A HOLE CLICK HERE
FED'S VOLATILITY CLICK HERE 
CHINA LEADS RECORD CAR LAUNCHES, TESTING GLOBAL AUTOMAKERS CLICK HERE
STOXX 600 DIPS; BROKER ACTION, DEAL TALK DRIVE MOVERS CLICK HERE
BEFORE THE BELL: EUROPE EYES SOFT OPEN AS FED JITTERS OUTWEIGH U.S. FUTURES BOUNCE CLICK HERE
WARSH DEBUT RAISES RATE-HIKE STAKES CLICK HERE 
     
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Snapshot https://fingfx.thomsonreuters.com/gfx/mkt/akverzxxgpr/Pasted%20image%201781813123300.png