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Last Updated: 24-Apr-26 08:57 ET | Archive
Intel gives the market some surprisingly good intel
Briefing.com Summary:
*Reports suggest there is a strong possibility of the U.S. and Iran resuming talks this weekend in Pakistan.
*Intel is soaring in pre-market action following an earnings report and outlook that took investors by surprise.
*Procter & Gamble is higher despite anticipating results at the low end of its FY26 guidance range.
We have some intel for you this morning, and it is pretty good.
First, the U.S. and Iran may resume their talks this weekend in Pakistan. Secondly, Israel and Lebanon have agreed to extend their ceasefire for three weeks. Third, President Trump has reportedly signaled that there might be an off-ramp taken in the DOJ's investigation of Fed Chair Powell that would pave the way for Kevin Warsh to become the next Fed chair.
This intel, however, hasn't mattered as much to the market as the intel provided by Intel (INTC) in its latest earnings report. It was uplifting in all regards; hence, the stock of Intel has been uplifted in a major way. INTC is trading 27% higher in pre-market action, which is going to provide a strong boost to the Philadelphia Semiconductor Index.
The latter is up 32.8% this month (!) but will go even more parabolic at the open. That leaves open the possibility of a blowoff top that is followed by a sharp reversal from an overbought condition.
There was a fairly sharp reversal in oil prices that was precipitated by the news of a possible meeting in Pakistan this weekend between U.S. and Iranian officials. WTI crude futures had been pushing $98.00/bbl, but when the news broke, prices quickly dropped below $94.00/bbl. WTI crude futures are currently at $95.86/bbl.
The pullback in crude futures is a source of support, but Intel has been the main driver this morning.
Currently, the S&P 500 futures are up 15 points and are trading 0.2% above fair value, the Nasdaq 100 futures are up 280 points and are trading 1.1% above fair value, and the Dow Jones Industrial Average futures are down 147 points and are trading 0.3% below fair value.
Procter & Gamble (PG) is doing what it can to offset weakness in some other Dow components. PG is up 2.2% after topping fiscal Q3 consensus estimates and reaffirming its FY26 outlook, although it anticipates its results to be at the lower end of its guidance range of $6.83-7.09 due in part to higher expenses for commodities, tariffs, and net interest.
The market in general, though, continues to take the high ground when it comes to earnings expectations, and Intel is taking it there this morning with results and some guidance intel that were a welcome surprise.
