What’s News in Markets: New Record Highs, Luxury Woes, and AI Makeovers

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Imani Moise· Host0:29

[instrumental music] Hey, listeners, it's Saturday, April eighteenth. I'm Imani Moise for The Wall Street Journal, and this is What's News in Markets, our look at the biggest stock moves of the week and the news that drove them. Let's dive in. Investors began to look past the war in Iran this week, and major US indexes marched higher despite a barrage of geopolitical shocks. The Nasdaq and S&P five hundred hit record highs on Wednesday despite an ongoing blockade in the Persian Gulf. Stocks pushed even higher on Thursday and Friday as a standoff between the US and Iran continued. The rally suggests investors were more focused on what the conflict didn't do, which is derail the global economy. Tech stocks helped drive the broader market higher. Taiwan Semiconductor Manufacturing Company raised its revenue outlook and said it would ramp up investment to meet still surging demand for artificial intelligence chips. This week, the nation's biggest banks painted a reassuring picture of the US economy,