Finance

Shares of Intel skyrocketed nearly 24% following a standout earnings report that far exceeded analyst expectations for AI-driven demand. The rally marked Intel's best single-day performance since 1987 and lifted the broader Philadelphia Semiconductor Index by over 4%. Other major players like Nvidia and AMD also saw significant gains, with Nvidia's market capitalization briefly reclaiming the $5 trillion threshold.

Oil prices remained volatile, ending slightly lower at approximately $95 per barrel amid hopes for a restart in stalled U.S.-Iran diplomatic negotiations. Despite this dip, energy prices remain significantly elevated compared to 2025 levels due to ongoing blockades in the Strait of Hormuz. Geopolitical uncertainty continues to influence the bond market, keeping the 10-year Treasury yield anchored near 4.31%.

Market sentiment was bolstered by news that the U.S. Department of Justice has dropped its criminal probe into Federal Reserve Chair Jerome Powell. This development removes a major political obstacle as the administration seeks to confirm Kevin Warsh as the next Fed leader. Following the announcement, Treasury yields saw a modest decline as investors shifted focus toward upcoming central bank policy statements.

Recent data shows a 1.7% surge in retail sales, though the increase is largely attributed to higher gasoline prices stemming from the eighth week of conflict in the Middle East. While major railroads like CSX reported strong profits, consumer sentiment has hit record lows, with a majority of Americans expressing concern over housing costs and persistent inflation. Analysts project the U.S. GDP will grow by 2.2% in 2026 despite these mounting domestic pressures.

The cryptocurrency market continues to balance institutional adoption through spot ETFs with significant systemic risks. A major security breach on April 18, 2026, resulted in the theft of $290 million from prominent decentralized finance platforms, including Aave, leading to liquidity shortages for some lenders. Bitcoin remained relatively flat near $77,600 as capital increasingly shifts toward on-chain fixed-income assets and stablecoins.