LIVE MARKETS-US stocks rise on Iran hopes, earnings boost

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US STOCKS RISE ON IRAN HOPES, EARNINGS BOOST

The Nasdaq .IXIC and the S&P 500 .SPX are rising on Friday on renewed hopes for U.S.-Iran peace talks while earnings season also provided a massive boost with Intel leading the charge in a chip sector rally.

Iranian state media reported that Iran's Foreign Minister Abbas Araqchi was expected on Friday in Islamabad, the venue for past peace talks with the United States, raising hope that negotiations could resume after they collapsed earlier this week. However, the report made no mention of peace talks with the U.S. while it noted that the trip would also include Muscat and Moscow.

Oil prices were volatile as traders weighed supply disruptions against hopes of peace talks between the U.S. and Iran potentially resuming.

Meanwhile, on the earnings front, Intel INTC.O shares are soaring 23% and are tracking for their biggest one-day gain since 1987 after the chipmaker forecast second-quarter revenue above Wall Street expectations late on Thursday, underscoring booming demand for server processors used for artificial intelligence in data centers.

With that the Philadelphia semiconductor index .SOX was up more than 3% and on track for its 18th straight day of gains with most of its members advancing while Advanced Micro Devices AMD.O is up nearly 14% and U.S. shares of Arm Holdings ARM.O are adding 11%, while Qualcomm QCOM.O is rallying almost 10%.

Shares in smaller chip company MaxLinear MXL.O are surging 65% after it swung to a profit from a year-ago loss and reported a 43% revenue increase, as per data compiled by LSEG.

In the healthcare sector, Edwards Lifesciences EW.N shares are rallying more than 4% after it beat the Street's first-quarter estimates on robust demand for its artificial valves used in complex cardiac procedures.

At Procter & Gamble PG.N demand for pricier hair and skin care products helped the consumer goods bellwether top quarterly expectations while it warned of hefty fiscal 2026 headwinds from commodity costs, tariffs, higher net interest expense and a higher tax rate versus the prior year while foreign exchange is forecast to be a tailwind. Its shares are up 3.5%.

Here is your morning snapshot:

(Sinéad Carew)

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