LEXINGTON, Ky. — Intel's strongest trading day in nearly four decades powered the U.S. stock market to fresh records Friday, as investors digested corporate earnings reports and monitored international tensions affecting oil prices, according to LEX 18 News.

The S&P 500 climbed 0.8% to surpass its previous all-time high set Wednesday, while the Nasdaq composite rallied 1.6% to its own record. The Dow Jones Industrial Average dipped 79 points, or 0.2%. Intel led the charge, soaring 23.6% for its best day since 1987 after reporting first-quarter results that exceeded analyst expectations. CEO Lip-Bu Tan attributed the strength to increased demand for Intel's chips from the expanding artificial intelligence technology sector, with the company's spring profit forecast also topping estimates.

The market's momentum reflects broader optimism about corporate profitability, with the S&P 500 climbing nearly 13 percent in less than a month. Other earnings-driven gains included Procter & Gamble, which rose 2.5% after reporting stronger-than-expected quarterly profit driven by broad-based growth across regions and products. However, Charter Communications dropped 25.5% after reporting weaker-than-expected profit and losing 120,000 internet customers in the quarter.

Oil markets remained volatile as geopolitical tensions continue. A ceasefire between the United States and Iran remains tenuously in place, but restrictions on shipping through the Strait of Hormuz kept crude prices fluctuating. Brent crude for June delivery settled at $105.33, up 0.2%, while July futures fell 0.2% to $99.13. Encouraging signals emerged Friday when Iran's top diplomat indicated he was heading to Pakistan for potential ceasefire negotiations, with White House press secretary Karoline Leavitt confirming that President Donald Trump is sending envoys Steve Witkoff and Jared Kushner to meet with Iran's foreign minister.

In the bond market, Treasury yields eased as traders increased bets on potential Federal Reserve rate cuts later this year. The path also cleared for Trump's Fed nominee Kevin Warsh after the Justice Department ended its probe into current Fed Chair Jerome Powell, removing a confirmation hurdle. The 10-year Treasury yield dipped to 4.30% from 4.34%.

Consumer sentiment remained weak, however, with a University of Michigan survey showing weaker sentiment across political party, income, age and education groups in April, though it improved slightly after the ceasefire announcement earlier in the month.