US stocks have roared ahead of their European counterparts in a tech-fuelled rebound from the sell-off sparked by Donald Trump’s Iran war, as robust corporate earnings help Wall Street shrug off a global energy shock.
The Nasdaq Composite index climbed 1.6 per cent on Friday to a record high, boosted by chipmaker Intel, whose shares surged past their dotcom-era peak after new revenue forecasts surpassed market estimates.
The tech-heavy index has now gained 15 per cent this month as hopes of an end to the Iran conflict boost markets. The broader S&P 500 benchmark, which is also trading at record levels, is up 10 per cent, against a gain of 5 per cent in Europe’s benchmark Stoxx 600, on track for the biggest gap in performance since last June.
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