Stock Market Today: U.S. futures fall as dim outlook for Intel chills tech stocks

U.S. stock futures retreated on Friday after Intel unveiled a downbeat outlook, as investors awaited key inflation data seen as having implications for the timing of a rate cut.

S&P 500 Index (^GSPC) after futures fell below the flat line win thursday The benchmark closed at another record high. Dow Jones Industrial Average (^DJI Innovations) futures are also hovering below that line, while the tech-heavy Nasdaq 100 Index (^NDX) fell nearly 0.3%.

In Intel (International Trade Centre) Season one Prospects fall far short of expectations Wall Street’s expectations have somewhat tempered hopes for an AI push that had helped lift Share price hits record highIntel shares fell more than 10% in pre-market trading, while peer AMD (AMD) and NVIDIA (NVDA) also received a slight knock.

The December PCE index will be announced later attract intense attentiona preliminary interpretation of economic growth in the fourth quarter hotter than expected.This can support the following views: The Fed will push for interest rate cuts After March, policymakers attempted to achieve a “soft landing” for the economy.

read more: What the Fed’s pause on rate hikes means for bank accounts, certificates of deposit, loans and credit cards

Additionally, the GDP report’s interpretation of the quarterly PCE suggests that inflation is heading in the right direction for the Fed. Friday’s monthly update is expected to show annual “core” PCE (excluding food and energy) at 3%.

Meanwhile, investors will be watching the next batch of earnings reports for a deeper look at the health of corporate America and the economy. Colgate-Palmolive (CL) was a highlight on Friday, as was the American Express (AXP), especially after payment card rival Visa (V) gave one Tepid revenue growth forecast.

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