S&P 500, Nasdaq notch record closing highs on tech, Iran hopes

STORY: Wall Street's main indexes closed mostly higher on Friday, with the Dow the only outlier, dipping marginally, while the S&P 500 rose eight-tenths of a percent and the tech-heavy Nasdaq climbed more than 1.6%.Investor optimism was bolstered by possible weekend negotiations to end the U.S. war in Iran.Meanwhile, a more than 23% surge in shares of Intel - which hit a record high during the trading session - extended the rally in semiconductor stocks.Robert Conzo is CEO and managing director of The Wealth Alliance."The Intel story continues to amaze people. Since March, it's up 97% when CEO (Lip-Bu) Tan got in, which was March of last year. From that point, the stock is up 280%. I think I actually attended the Intel funeral at one point in time, but it's obviously been a complete turnaround story. So you have a market now that's doing pretty interesting things."Fellow chipmakers AMD and Arm both shot higher by about 14%.Megacap Nvidia climbed more than 4% to a record close as it once again neared a $5 trillion market valuation. As a result, the Philadelphia Semiconductor Index gained more than 4% to extend its record run of gains to 18 consecutive sessions.Attention now shifts to the Federal Reserve meeting next week, which will be scrutinized for clues on rate cuts and the central bank's leadership succession.The U.S. Justice Department on Friday said it was closing its investigation into Fed Chair Jerome Powell, clearing an obstacle to the confirmation of Kevin Warsh, President Trump's pick to lead the central bank.