Why Intel Stock Surged After Trump Promised $5,000 to Every American

Intel (INTC) traded 2.5% higher near $102.84 late Friday, after President Donald Trump insisted his proposed $5,000 midterm election payment to American adults will happen indefinitely.

The move extended a run that has carried the chipmaker above $100. The government bought in at $20.47 a share last year, and that paper profit has become a favorite talking point for the administration.

Lutnick Puts a Number on the Intel Position

Following Trump's reassurance, his administration's Commerce Secretary, Howard Lutnick, told NBC News that the checks would not be drawn from tax revenue.

Instead, he pointed to Washington's Intel shares as a way to pay for it, describing the lNTC holdings as money the government can earn rather than collect.

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