* Indexes mixed: Dow down 0.17%, S&P 500 up 0.75%, Nasdaq

up 1.50%

* Intel ( INTC ) shares hit record after upbeat Q2 forecast

* Justice Department to end probe into Powell

(Updates with late-morning trade)

By Niket Nishant and Avinash P

April 24 (Reuters) - The S&P 500 climbed and the Nasdaq

scaled an intraday record on Friday, supported by renewed hopes

for U.S.-Iran negotiations to end the war and a searing rally in

Intel ( INTC ) shares.

Iran's foreign minister, Abbas Araqchi, was expected in the

Pakistani capital Islamabad on Friday ​to discuss proposals for

restarting peace talks with the U.S., Pakistani government

sources said.

That gave markets some relief at the end of a week

overshadowed by a stalemate, with the U.S. maintaining its naval

blockade of Iranian ports while Iran seized ships attempting to

pass through the Strait of Hormuz.

"Both sides are incentivized to end this quickly. They want

to move on. It's just going to take time and so we're trying not

to get too focused on the day-to-day changes," said Jack Herr,

senior investment analyst at GuideStone Funds.

Semiconductors, one of the market's key pockets of

resilience, continued to shine. The Philadelphia SE

Semiconductor Index gained 4.3% and was on track to

extend its winning run to 18 consecutive sessions.

Intel ( INTC ), which hit a record high and was last up

23.4%, was the biggest gainer on the index following a

better-than-expected revenue forecast for the second quarter.

Rivals AMD and Arm also climbed over 15%

each. Nvidia ( NVDA ) rose 5% and was set for a closing record.

The information technology index added 2.3% and

was the biggest boost to the benchmark. Tech stocks also

shrugged off DeepSeek's preview of its highly awaited new model.

At 11:52 a.m. ET, the Dow Jones Industrial Average

fell 85.40 points, or 0.17%, to 49,224.92, the S&P 500

gained 53.25 points, or 0.75%, to 7,161.65 and the Nasdaq

Composite gained 365.49 points, or 1.50%, to 24,804.12.

The S&P 500 and the Nasdaq were cruising toward their fourth

consecutive week of gains, their longest streak since October

2024. The blue-chip Dow, on the other hand, was set to end a

three-week winning run.

FED MEETING AWAITED

Attention is also shifting 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 is closing its investigation

into Fed Chair Jerome Powell, clearing an obstacle to the

confirmation of Kevin Warsh, Trump's pick to lead the central

bank.

U.S. rate futures on Friday priced in a 34% chance of easing

by the end of the year, up from about 23% late on Thursday,

according to LSEG estimates.

Strong earnings from a series of corporations also offered

some support. Yet with the results taking into account just one

month of the war disruption, some investors have questioned how

reliable they are as a guide to what lies ahead.

Oil prices remain the biggest source of uncertainty, as

Brent crude futures are still around 44% above pre-war

levels because of disruption in the crucial Strait of Hormuz

shipping route.

Still, some see the pullback as a buying opportunity,

arguing that valuations have become more compelling.

"U.S. equities are seen as more immune to the oil shock than

other countries. The magnitude of oil price movement itself is

much lower now, comforting equity investors," said Manish Kabra,

U.S. equity strategist at Societe Generale.

Advancing issues outnumbered decliners by a 1.42-to-1 ratio

on the NYSE and by a 1.37-to-1 ratio on the Nasdaq.

The S&P 500 posted 32 new 52-week highs and four new lows,

while the Nasdaq Composite recorded 96 new highs and 65 new

lows.