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US stocks diverged on Friday as semiconductor stocks powered to new highs and the Department of Justice dropped its criminal investigation into Fed Chair Jerome Powell.
The tech-heavy Nasdaq Composite (^IXIC) climbed 1.6% to a fresh record as the semiconductor index (^SOX) extended gains for the 18th day in a row.
The S&P 500 (^GSPC) added 0.8% to close at a record. Meanwhile, the Dow Jones Industrial Average (^DJI) slipped 0.2% following a losing day for Wall Street stocks.
Tech equities surged as shares of Intel (INTC) jumped to a record high, surpassing their level from the year 2000. The chip giant’s strong outlook and first quarter profit beat was a sign of renewed optimism around the AI trade. Nvidia (NVDA) also closed at a record, re-taking the $5 trillion market cap crown.
Stocks also gained after the DOJ announced it would drop its criminal probe into Chair Powell, potentially clearing the way for the confirmation of President Trump’s pick to lead the Fed, Kevin Warsh.
Daily Market Coverage Apr. 24, 2026 3PM-5PM (ET) | Yahoo Finance
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