From Nasdaq:

The S&P 500 ended a five-session streak of record highs on Friday, with Intel INTC.O slumping after a bleak revenue forecast, while U.S. economic data showed inflation moderating. The S&P 500 and Nasdaq ended the session lower and all three major indexes recorded their third straight weekly gain and their 12th weekly advance out of 13. A U.S. Commerce Department report showed moderate inflation in December. Intel INTC.O shares tumbled 11.9% after missing revenue estimates while KLA Corp KLAC.O dropped 6.6% following a disappointing third-quarter revenue forecast. Intel gave a revenue forecast that badly missed estimates, while KLA Corp fell following its weak third-quarter revenue forecast. This led to a 2.9% drop in the Philadelphia SE Semiconductor index. The S&P 500 ended the session at 4,890.97 points, the Nasdaq at 15,455.36 points, and the Dow Jones Industrial Average at 38,109.43 points. The S&P 500 added 1.06% for the week, the Dow gained 0.65%, and the Nasdaq advanced 0.94%. The recent news strengthens the possibility of a soft landing, and AI continues to gain traction. Of the S&P 500 companies that have reported earnings, 78.2% have surpassed expectations, compared with a long-term average beat rate of 67%. Tesla TSLA.O shares recovered 0.3% after sliding 12% following a warning of slower growth in 2024. Apple AAPL.O fell 1% ahead of its earnings report. Visa V.N declined 1.7% after tepid current-quarter revenue growth forecast, while American Express AXP.N jumped 7.1% and hit a record high after forecasting a higher-than-expected annual profit. Colgate-Palmolive CL.N rose 2% after posting upbeat fourth-quarter results. Volume on U.S. exchanges was relatively light with 9.6 billion shares traded. Advancing issues outnumbered falling ones in the S&P 500 by a 1.2-to-one ratio. The S&P 500 posted 36 new highs and 1 new low, the Nasdaq recorded 93 new highs and 77 new lows.



Read more: US STOCKS-Weak Intel forecast drags S&P 500, ends streak of record highs