Finance

Shares of Intel surged nearly 24% in a single day after the company reported first-quarter profits and revenue that far exceeded analyst expectations. This massive gain represented the semiconductor giant's best trading day since 1987 and sparked a broader rally across the chip sector, boosting competitors like AMD and Qualcomm.

Markets were buoyed by emerging reports of potential peace talks in Islamabad aimed at de-escalating the ongoing conflict between the United States and Iran. While a definitive breakthrough has not yet been achieved, the prospect of renewed negotiations led to a decrease in crude oil prices and a shift back toward riskier assets across global markets.

The cryptocurrency market remained steady, with Bitcoin trading near $78,300 as investors increasingly view the asset class through the lens of institutional stability. Market analysts noted that the sector is now supported by 'Three Pillars of Stability'—spot ETFs, sovereign adoption, and enterprise-grade decentralized finance—which have helped decouple current price action from the retail-driven volatility of previous years.

The Federal Reserve is widely anticipated to keep the federal funds rate unchanged at 3.50–3.75% during its upcoming meeting. Policymakers are navigating a complex landscape where high oil prices and the transition to a new chair are being balanced against easing core inflation expectations and a projected sharp pickup in first-quarter GDP growth.

Newly released data following the April tax deadline indicates that the IRS has paid out approximately $296 billion in refunds so far in 2026, a 17% increase over the previous year. The average refund amount rose to $3,275, a change attributed to legislative updates that expanded deductions for items like tips, overtime pay, and state and local taxes.