(NASDAQ: INTC) stock is leaping higher in Friday's trading thanks to a pair of bullish catalysts. The semiconductor company's share price gained 5.5% in a day of trading that saw the S 500 jump 1.5% and the Nasdaq Composite surge 1.8%.
Intel's valuation climbed today thanks to a speech from Federal Reserve chair Jerome Powell that increased hopes among investors for an interest rate cut at the central bank's meeting next month. The stock also got a boost from a report suggesting that the Trump administration was on the verge of announcing that it was on track to acquire a 10% stake in the company.
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Source Fool.com