Nasdaq Hits New Intraday Record Amid Semiconductor Surge

Apr 24, 2026 15:32 UTC

INTC, ^IXIC, ^GSPC

Short term

The Nasdaq Composite reached a fresh intraday peak as semiconductor equities rallied following Intel's latest earnings results. Markets are now eyeing key closing thresholds to secure weekly record highs.

Nasdaq hit an intraday high of 24,741.04
Intel earnings sparked a broad rally in chip equities
Nasdaq weekly closing high target set at 24,657.577
S&P 500 weekly closing high target set at 7,137.90

The Nasdaq Composite surged to a new intraday record of 24,741.04 on Wednesday, propelled by a sustained rally in the semiconductor sector. This upward momentum follows the release of Intel's earnings report, which has served as a primary catalyst for chip stocks, lifting the broader tech-heavy index back to its highest levels. Market participants are now focusing on critical technical levels to determine the strength of the current trend. To conclude the trading week at a closing record, the Nasdaq must maintain a level above 24,657.577. Simultaneously, the S&P 500 is targeting its own milestone, requiring a finish above 7,137.90 to secure a weekly closing high. The rally underscores the continued influence of the semiconductor industry in driving overall equity market valuations. As the week progresses, traders are monitoring whether these record-breaking levels can be sustained or if the market will encounter resistance at these psychological peaks.