Stock Market Today, April 24:Tech Strength Drives Midday Markets

Tech strength led U.S. markets at midday as chip stocks powered the Nasdaq/US Tech 100 higher. Intel’s strong Q1 print and upbeat guidance sent its stock up ~23.8%, sparking broad semiconductor gains (AMD +15.2%; Qualcomm also double‑digit), helping the Nasdaq outperform while the Dow lagged amid weak cyclicals/financials and elevated oil from Strait of Hormuz disruptions. The PHLX Semiconductor Index has climbed over 50% in the past six months and is on a 17‑day winning streak. Despite bullish momentum from earnings and AI optimism, the Bank of England warned investors may be underestimating macro and valuation risks, leaving some caution for longer‑term positioning.