The Nasdaq 100 pushed to a new record high at midday Friday as a blowout quarter from Intel Corp. (NASDAQ:INTC) supercharged chip stocks, with the iShares PHLX SOX Semiconductor Sector Index Fund (NASDAQ:SOXX) pencilling in its 18th straight session of gains.

• Intel shares are testing new highs. Why is INTC stock breaking out?

Oil pulled back roughly 1% after Pakistan signaled that Iran’s foreign minister was heading to Islamabad for possible ceasefire talks, easing some of the energy-driven pressure that had dominated the tape all week.

Across U.S. equity markets by midday Friday, gains were concentrated in megacap tech while cyclicals and health care lagged.

The Nasdaq 100 jumped 1.6% to 27,203, a fresh record high. The S&P 500 rose 0.7% to 7,161, pushing further into record territory, while the Dow Jones Industrial Average slipped 65 points, or 0.1%, to 49,245.

Within Magnificent Seven stocks, NVIDIA Corp. (NASDAQ:NVDA) rallied 4.5% to $208.59, Amazon.com Inc. (NASDAQ:AMZN) climbed 2.8%, and Meta Platforms Inc. (NASDAQ:META) added 2.4%. 

Alphabet Inc. (NASDAQ:GOOGL) was 1.2% higher,  nearing record highs, after headlines showed Google committing as much as $40 billion in new investment to Anthropic, including an initial $10 billion cash commitment and up to five gigawatts of computing capacity. 

The Russell 2000 added 0.6% to 2,792.