Stock Market News, April 24, 2026: Nasdaq, S&P 500 Hit Records, Fueled by Intel Rally - WSJ

Executive Brief

On Tuesday, April 24, 2026, U.S. equity markets surged to new heights, with the Nasdaq 100 and S&P 500 closing at record levels for the first time since February. The rally was primarily driven by a robust performance in the technology sector, specifically semiconductor stocks, which rallied following geopolitical de-escalation between Israel and Iran. The broader market entered a "risk-on" mode as investors digested news of a ceasefire agreement reached on Monday night. Despite brief morning concerns regarding potential violations of the truce by President Trump, the day concluded with optimism bolstered by Israel lifting wartime restrictions and reopening major airports.

The Dow Jones Industrial Average remained roughly 4% off its all-time high, while the S&P 500 advanced 1.1%, finishing less than 1% away from a new record. The Nasdaq 100 rose 1.5% to close at 22,190. Beyond the geopolitical catalysts, corporate earnings and regulatory shifts played pivotal roles, including the Department of Justice dropping its probe into Federal Reserve Chair Jerome Powell, which further fueled investor confidence in monetary policy stability.

Detailed Technical Analysis

The technology sector served as the primary engine for the day’s gains, with nearly all "Magnificent Seven" stocks advancing. Microsoft (MSFT) gained nearly 1% to set a new all-time high, while AI chip giant Nvidia (NVDA) added 2.6% to close at its highest price since January. Amazon (AMZN) and Meta (META) each added approximately 2%, and Alphabet (GOOG) tacked on 1%.

However, the rally was not uniform across the sector. Tesla (TSLA) and Apple (AAPL) were the laggards of the group, declining 2.4% and 0.6%, respectively. The standout performers were chip stocks, which soared significantly. Advanced Micro Devices (AMD) and Intel (INTC) each climbed more than 6%, contributing heavily to the semiconductor surge. Broadcom (AVGO) notched a record high after jumping 4%. Consequently, the PHLX Semiconductor Index (SOX) advanced 3.8% for the day.

This performance highlighted a shift in capital allocation toward hardware and infrastructure required for AI development. Analysts noted that Intel's rally was extended from previous weeks amid speculation about new business from Apple, potentially becoming a new customer on top of existing partnerships with Nvidia. Boeing (BA) also contributed to the broader index strength, climbing 10.2% as its Chief Financial Officer provided an optimistic forecast for deliveries and free cash flow in 2026.

Market Impact & Sentiment

The market sentiment was heavily influenced by the geopolitical landscape surrounding the Israel-Iran conflict. The agreement to a ceasefire on Monday night triggered a significant shift in investor psychology, moving capital away from defensive sectors toward risk assets. However, the peace process remained fragile; President Trump accused both sides of violating the agreement early Tuesday morning. Despite this, investors were encouraged throughout the day by tangible signs that the truce was holding, including Israel's decision to lift most wartime restrictions and fully reopen major airports.