Intel, Boeing Rally As Silver Hits $46 And Bitcoin Slips Below $110,000: What's Moving Markets Friday?

Wall Street moved modestly higher by midday Friday, yet major indexes remain on pace to break a three-week winning streak.

At midday, the S&P 500 was up 0.4% to 6,630, while the Nasdaq 100 gained 0.2% to 24,440. The Russell 2000, the benchmark small-cap index, rebounded 0.5%.

Blue-chip stocks led broader gains, with the Dow Jones Industrial Average advancing 0.7%.

Intel Corp. (NASDAQ: INTC) surged more than 5% midday, extending its weekly gain to 20% following last week’s 22% advance. The chipmaker continues to ride the momentum of Nvidia Corp‘s (NASDAQ: NVDA) $5 billion investment pledge, which reinvigorated investor enthusiasm.

Fresh upside catalysts emerged Friday after Bloomberg reported that Intel had approached Apple Inc. (NASDAQ: AAPL) for a potential investment. Separately, The Wall Street Journal reported that Intel also reached out to Taiwan Semiconductor Manufacturing Co. (NYSE: TSM), fueling further optimism about its chip ambitions.

Boeing Inc. (NYSE: BA) climbed nearly 4%, buoyed by a pair of major new orders. Turkish Airlines agreed to purchase 75 787 Dreamliners and up to 150 737 MAX aircraft. The company also announced that Norwegian Group placed a new order for 30 737 MAX jets.

Oracle Corp. (NYSE: ORCL) fell for a fourth straight session, giving up nearly half of its gains from last week's strong AI-driven rally. Pressure mounted after Rothschild & Redburn analyst Alex Haissl initiated coverage with a “Sell” rating, stating that the market is likely overestimating Oracle’s capacity to scale its AI cloud infrastructure business.

Inflation figures released Friday showed no surprises but indicated the Fed’s need for caution on its rate-cut cycle.

The Personal Consumption Expenditures (PCE) price index rose 2.7% year-over-year in August, up from 2.6% in July, matching forecasts. The core PCE, which excludes food and energy and is closely watched by the Fed, remained flat at 2.9%, in line with expectations.

Precious metals continued their recent run, with gold approaching $3,380 per ounce, marking its sixth consecutive weekly advance.

But it was silver that stole the spotlight, jumping 2.1% midday and now up 7% on the week, on track for its best performance in nearly three months. Prices have now topped $46 per ounce, targeting levels last seen in May 2011.

WTI crude oil rose to $66 a barrel, the highest price since early August, amid ongoing concerns over sanctions on Russia.

In crypto markets, Bitcoin (CRYPTO: BTC) was steady but remained below the $110,000 threshold, failing to recover from Thursday’s 3.8% drop. For the week, Bitcoin is down over 5%, on track for its worst performance since early March.

Friday’s Performance In Major US Indices, ETFs

According to Benzinga Pro data:

• The Vanguard S&P 500 ETF (NYSE: VOO) rose 0.4% to $609.12.
• The SPDR Dow Jones Industrial Average (NYSE: DIA) rose 0.7% to $462.17.
• The tech-heavy Invesco QQQ Trust Series (NASDAQ: QQQ) inched 0.2% up to $594.55.
• The iShares Russell 2000 ETF (NYSE: IWM) climbed 0.6% to $240.77.
• The Energy Select Sector SPDR Fund (NYSE: XLE) outperformed, up 1.5%; the Consumer Staples Select Sector SPDR Fund (NYSE: XLP) lagged, flat for the day.

S&P 500’s Top Midday Gainers

S&P 500’s Top Midday Losers

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