Editor
Intel Corp. missed its fourth quarter finale of Forts and Impacts Wall Street gains this weekend.
Wall Street edged lower after a lower-than-expected first-quarter forecast by the semiconductor chip manufacturing company Intel. Two of Wall Street’s main indexes fell in today’s session, while the other one swung up and down, moving to close the session with flat gains at least.
The disappointing first-quarter results have impacted the market. The company’s Q1 revenue is expected to be $12.2 billion to $13.2 billion, below Wall Street projections of $14.5 billion. On today’s opening trading hours, Intel Inc. price shares have fallen by 10%, affecting Nasadqd and the broader S&P gains.
The company scored a total of 75% increase last year, which makes it the best-performing company in the year. As predicted last year, this year might come with aggressive challenges, especially when the Chinses tension has increased significantly.
On the other hand, T-Mobile US has deepened the wound; the company failed to hit its projected profits, and T-Mobile U.S. price shears were down by 0.5%. After the release of the fourth quarter earnings reports, the reports show that its wireless carrier missed its profit target for the fourth quarter.
despite raising loan loss provisions in anticipation of potential defaults.
American Express (NYSE: AXP) stock rose 2% after beating full-year profit expectations; Visa (NYSE: V) stock fell 1.8% due to tepid Q2 sales guidance, forecasting an uptick in net revenue in the “upper mid- to high single-digit” range, slower than the 11% increase in the same period in 2023.
Meanwhile, on Wall Street, the Dow Jones industrial average was slightly higher by 0.02%. The tech-heavy Nasdaq was down by 0.34%, impacted by the Intel stock price crash. Moving to the broad S&P 500, the index fell by 0.14%.
As for the index data, despite today’s failure, the S&P 500 hit a new high, boosted by collating inflation data. The S&P 500 achieved its fourth record high this month and closed at an all-time high for the fifth straight session.
The strong fourth-quarter U.S. economic growth reading contributed to the market’s positive performance.
All three major indexes are on track for their third consecutive week of gains and the 12th weekly advance out of the last 13.
According to the U.S. Commerce Department’s report, The annual increase in inflation remained below 3% for a third consecutive month. In turn, this supports and indicates high indications of additional interest rate cuts this year. The reports also showed that the personal consumption expenditure index, the Federal Reserve’s preferred inflation gauge, rose moderately in December.
Todd Morgan, chairman of Bel Air Investment Advisors, shared his opinion on yesterday’s growth report and today’s data. Todd says: “Inflation is headed in the right direction, and with the excellent GDP figure, it’s almost turning into a Goldilocks environment.”
Based on his language, Todd thinks that the U.S. Federal Reserve monetary officials will for sure make additional interest rates this year. Some even say it will be sooner, and that is to tame inflation for good while it is still cooling.
