Why Intel Stock Surged Today
After sell-offs yesterday, Intel (NASDAQ: INTC) stock rallied in Tuesday’s trading. The semiconductor company’s share price gained 2.8% amid a 2.5% gain for the S&P 500 and a 2.7% gain for the Nasdaq Composite. The stock had been up as much as 4.8% before giving up some of its gains.
Bloomberg reported today that U.S. Treasury Secretary Scott Bessent said at an investor conference this morning that the U.S.-China trade war could see significant de-escalation in the near term. The news helped power substantial gains for Intel despite two analysts lowering their price targets on the stock before the market opened.
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