World markets today: US stocks flat, Intel at 6-week low, down 12%

U.S. stock market benchmarks, the S&P 500 and Dow Jones Industrial Average, were flat as inflation reports showed sustained easing in price pressures.

As of 9:49 a.m. ET, the Dow Jones Industrial Average had risen 36.03 points, or 0.09%, to $38,085.16. Meanwhile, the S&P 500 showed a slight decline of his 3.32 points, with the current value at 4,890.84, corresponding to a decline of 0.07%. Furthermore, the Nasdaq Composite Index declined by 32.89 points, reflecting a decline of 0.21%, and now stands at 15,477.61.

A report from the U.S. Department of Commerce revealed that the personal consumption expenditure index, which the Federal Reserve uses as a measure of inflation, rose modestly in December. This consistent easing has kept the annual inflation rate below 3% for three consecutive months. This trend could give central banks an opportunity to consider starting to cut interest rates later this year.

Putting pressure on the tech-heavy Nasdaq, Intel witnessed a sharp 12.1% decline, hitting a six-week low. The downturn was driven by the company’s prediction that first-quarter revenue could be more than $2 billion lower than expected. As a result, other semiconductor stocks such as Advanced Micro Devices, Qualcomm, and Micron Technology also fell in the range of 1.6% to 2.2%.

In the stock market, American Express soared 7.1%, helped by the credit card company’s optimistic annual profit forecast. Conversely, peer Visa (VN) fell 2.1%, as the largest payments processor’s subdued revenue growth forecast for the quarter overshadowed its otherwise positive revenue results. Ta.

A remarkable 78.2% of S&P 500 companies that have reported earnings so far beat expectations, according to LSEG data. This stands out compared to the long-term average beat rate of 67%.

Advancers outnumbered decliners by a 2.25-to-1 ratio on the New York Stock Exchange (NYSE) and 1.75-to-1 on the Nasdaq. The S&P Index posted 26 new highs and no new lows in 52 weeks, while the Nasdaq Index posted 48 new highs and 28 new lows. These statistics highlight the dynamic and positive trends observed in the market.

On Thursday, the Dow Jones Industrial Average rose 81.36 points, or 0.22%, to 37,887.75, the S&P 500 rose 15.31 points, or 0.31%, to 4,883.86, and the Nasdaq Composite Index rose 49.29 points, or 0.32%. , at 15,531.21.

Meanwhile, the pan-European benchmark STOXX 600 rose 1.11% after the European Central Bank (ECB) kept interest rates on hold.

Among Asian countries, China’s Shanghai Composite Index fell by 1.90%, while Hong Kong’s Hang Seng Index fell by 1.60%.

Oil prices remained stable on Friday, on a rising trajectory for the second straight week, driven by signs of stronger U.S. economic growth and Chinese stimulus that boosted demand sentiment. In addition, concerns over supplies in the Middle East further supported the market.

Brent crude oil futures experienced a slight decline of 9 cents, reaching $82.34 per barrel by 11:13 a.m. ET. Despite this slight decline, it is worth noting that earlier in the day, it reached an intraday high of $82.80, its highest price of the year.

Stability in gold prices persisted on Friday as investors shifted their focus to the US Federal Reserve’s policy meeting scheduled for next week in hopes of gaining further insight into the interest rate outlook.

As of 9:58 a.m. ET (1458 GMT), spot gold has shown minimal movement, trading at $2,020.19 per ounce, reflecting a modest 0.5% decline this week. At the same time, US gold futures rose slightly by 0.1% to $2,020.30.