From Nasdaq Inc.:

U.S. stock index futures fall on Friday as chip stocks sag after Intel’s dour revenue forecast. Intel lost 11.3% in premarket; Tesla also issued a growth warning earlier this week. Traders await the core personal consumption expenditures (PCE) price index data expected at 8:30 a.m. ET, which is anticipated to rise. With evidence of a durable return in inflation, traders now see a 90% likelihood of the Fed delivering its first rate cut in May. The S&P 500 closed at an all-time high for a fifth straight session after data reflecting strong fourth-quarter U.S. economic growth. At 5:36 a.m. ET, Dow e-miniswere down 70 points, S&P 500 e-minis were down 9.5 points, and Nasdaq 100 e-minis were down 100.5 points. Visa declined 3.1% and Western Digital fell 4.4% following a bigger-than-expected quarterly adjusted loss. As per LSEG data, 82% of S&P 500 companies that have reported earnings so far have surpassed expectations. Tesla rebounded 0.8% in early trade after the electric-vehicle-maker’s market value dropped below Eli Lilly and was just above Broadcom on Thursday.



Read more: US STOCKS-Futures fall as Intel forecast hurts chip stocks; inflation data eyed