From Nasdaq:

1. The S&P 500 attained a new record high after a modest inflation report showing a continued decrease in price pressures, while the Nasdaq experienced a decline in chip stocks following Intel’s forecast. The U.S. Commerce Department’s report indicated that the personal consumption expenditure index moderately increased in December, keeping annual inflation below 3%. Experts suggest potential rate cuts in light of these findings.

2. Intel’s forecast for their first-quarter revenue missing estimates by over $2 billion led to an 11.1% decline in its stock, causing a 2.3% drop in the Philadelphia SE Semiconductor index. Intel’s downfall negatively impacted the Nasdaq, ultimately leading to a 0.6% decline in the S&P 500 technology sector.

3. The second sequential week of positive movement on Wall Street, partially spearheaded by five out of seven major tech companies reporting greater-than-expected losses, signifies that 78.2% of S&P 500 companies surpassed forecasts. Although the S&P 500 technology sector led sectoral losses with a 0.6% decline, recent earnings data portrays a more positive situation.

4. While the Dow Jones Industrial Average increased by 0.25% at 38,144.93, the S&P 500 experienced a 0.06% increase at 4,897.09. Despite the Nasdaq’s 0.08% decrement at 15,497.87, the S&P 500 index recorded 33 new 52-week highs and the Nasdaq recorded 73 new highs and 50 new lows, signifying an overall positive market sentiment.

5. Companies such as American Express, Visa, and Colgate-Palmolive significantly impacted the market performance for the day. American Express rose 7.6%, prefacing a record high, due to higher-than-expected annual profit forecasts. On the other hand, Visa fell 1.6% in light of tepid current-quarter revenue growth predictions. Colgate-Palmolive rose 2.3% following strong fourth-quarter results.



Read more: S&P 500 hits fresh high after inflation data; Intel drags down Nasdaq