© Reuters
Investing.com – U.S. stocks were mixed on Friday, as investors digested disappointing forecasts from chipmaker Intel along with signs of cooling inflation.
At 09:35 ET (14:35 GMT), the dollar was up 60 points, or 0.2%, and was trading virtually flat, while it was down 25 points, or 0.2%.
Intel's weak guidance weighs
tech giant Intel (NASDAQ released a disappointing first-quarter revenue forecast after the market closed on Thursday, and this has weighed on market sentiment as the semiconductor maker has been one of the best-performing companies. over the last year, with its shares up 75% during that period.
Intel said it expects to post revenue in its current three-month period of between $12.2 billion and $13.2 billion, a range that was well below Wall Street projections of $14.5 billion, according to LSEG data cited by Reuters.
Its shares fell 10% on Friday.
Fed's favorite inflation gauge slows growth
That said, any losses have been tempered by the release of data showing that core price growth in the United States rose 0.2% in December, a rate that, if sustained, many economists believe could help cool inflation until reaching the Federal Reserve's target.
Compared with the same period a year earlier, the so-called , which excludes volatile items such as food and fuel, rose 2.9% last month. The rebound was a slowdown from 3.2% in November and slower than estimates of 3.0%.
Along with Thursday's strong numbers, the data could influence how the Fed approaches potentially lowering interest rates from highs in more than two decades.
T-Mobile US misses profit target
Earnings season continued on Friday, with T-Mobile US (NASDAQ:) shares falling 0.5% after the wireless carrier missed its fourth-quarter profit target, even as it forecast growth monthly number of bill pay phone subscribers for the year above estimates, the bank reported. on its extensive 5G coverage and promotional offers to attract consumers.
American Express (NYSE:) shares rose 2% after the credit card giant beat full-year profit expectations even as it raised its provisions for credit losses, bracing for a rise in potential loan defaults.
On the other hand, its main rival, Visa (NYSE:) shares fell 1.8% after offering tepid sales forecasts for the second quarter, and the world's largest payments processor predicted a rebound of “a single upper middle digit to high”. in net income during its current period, implying a slowdown from the 11% increase recorded in the corresponding period in 2023.
Digital West (NASDAQ:) shares fell more than 4% after the data storage products maker posted a larger-than-expected adjusted quarterly loss, due to the impact of structural changes the company implemented in its flash and HDD businesses.
Crude on track for weekly gains
Oil prices fell on Friday, giving up some of the previous session's strong gains, but are still on track to post strong weekly gains thanks to healthy U.S. economic growth and signs of Chinese stimulus.
At 09:35 AM ET, futures were trading 0.5% lower at $76.97 per barrel, while the contract fell 0.3% to $82.22 per barrel, after reached its highest levels since December during the previous session.
Crude oil benchmarks remain on track for gains of more than 4%, their biggest weekly gains since October, after data on Thursday showed the U.S. economy expanded faster than expected in the fourth quarter, which suggests economic resilience of the world's largest crude oil consumer. .
China, the world's second largest oil consumer, had also announced earlier in the week a deep cut in bank reserves to stimulate economic growth, as disruptions to oil supplies in the Red Sea continued.
Furthermore, it rose 0.3% to $2,023.65 an ounce, while trading 0.2% higher at 1.0871.
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