Futures down: Dow 0.22%, S&amp;P 500 0.14%, Nasdaq 0.16%
SLB beats fourth-quarter profit estimates
Intel slides as forecast misses estimates
January S&amp;P global PMI figures due at 9:45 a.m ET
(Updates with prices)
By Sruthi Shankar and Pranav Kashyap
Jan 23 (Reuters) - U.S. stock futures slipped on Friday, setting the S&amp;P 500 and Nasdaq up for a second consecutive weekly drop, as Intel tumbled on a downbeat outlook and lingering geopolitical concerns kept risk appetite in check.
Stocks have rebounded in the past two sessions following Tuesday’s sharp selloff triggered by U.S. President Donald Trump’s threats to impose tariffs on European allies until Washington was allowed to buy Greenland.
Trump later tempered tariff threats and ruled out taking Greenland by force, but the S&amp;P 500 (.SPX) and Nasdaq (.IXIC) were still set to close the week lower. Safe-haven flows persisted amid uncertainty over potential Greenland negotiations, sending gold to a record high and putting it on track for its best week in nearly six years. (GOL/)
At 06:57 a.m. ET, Dow E-minis (YMcv1) were down 111 points, or 0.22%, S&amp;P 500 E-minis (EScv1) were down 9.75 points, or 0.14%, and Nasdaq 100 E-minis (NQcv1) were down 42 points, or 0.16%.
<h3>INTEL DISAPPOINTS</h3>
Intel’s (INTC.O) shares slid 12.8% in premarket trading after the chipmaker forecast quarterly revenue and profit below market estimates, saying it struggled to satisfy demand for its server chips used in AI data centers. Its shares have surged about 50% since the start of the year.
Many of the so-called Magnificent Seven stocks, including Apple (AAPL.O) , Tesla (TSLA.O) and Microsoft (MSFT.O) , are set to report earnings next week. Given their weightage on indexes, their outlooks will be closely watched to see how much juice remains in the growth stories which so far have justified their sky-high valuations.
Driven by a strong U.S. economy and expectations of interest rate cuts this year, market gains have broadened beyond the megacap names to other pockets in the stock market. Both the small-cap Russell 2000 (.RUT) and the Dow Jones Transports indexes (.DJT) touched record highs on Thursday.
Nvidia (NVDA.O) rose 1.3% after Bloomberg News reported Chinese officials have told Alibaba (9988.HK) , Tencent (0700.HK) and ByteDance that they can prepare orders for Nvidia’s H200 AI chips.
<h3>FEDERAL RESERVE RATE DECISION</h3>
The Federal Reserve is expected to hold rates at 3.5%–3.75% next week, but investors will comb through the statement and Chair Jerome Powell’s remarks for signals on what is next amid a bumpy economic backdrop. CME’s FedWatch tool shows markets penciling in the first cut for June.
After some better-than-expected economic data releases on Thursday, investors await the S&amp;P Global’s business activity surveys for January and University of Michigan’s consumer sentiment data later in the day.
Trump, who has criticized Powell for waiting too long to cut interest rates, said he will soon announce his pick for the next Fed chair.
Among other movers, Intuitive Surgical (ISRG.O) rose 3.3% after it beat Wall Street estimates for fourth-quarter profit and revenue on growing demand for its surgical robots used in minimally invasive procedures.
SLB (SLB.N) rose 1% after beating estimates for fourth-quarter profit.
U.S.-listed shares of silver miners such as Hecla Mining (HL.N) and Coeur Mining (CDE.N) rose 2% and 0.7%, respectively, as silver prices (XAG=) touched record highs and neared $100-per-ounce mark for the first time.

On October 26th, after the U.S. stock market closed, chip giant Intel released its Q3 2023 financial report. The report showed that Intel's total revenue in the third quarter fell 8% year-on-year to $14.16 billion, marking the seventh consecutive quarter of declining sales, although it was still higher than the market expectation of $13.53 billion. In the second quarter, revenue had previously dropped 15% year-on-year, and the company expects revenue to return to growth in the fourth quarter. However, the sales of the Network and Edge Group (NEX), which includes IoT and other segments, fell 32% year-on-year to $1.5 billion. More importantly, the server chip division, named "Data Center and Artificial Intelligence," has yet to recover growth, with third-quarter revenue declining 10% year-on-year to $3.8 billion. Facing multiple competitive pressures, do you think Intel can turn the tide in the AI era?

On October 26th, after the U.S. stock market closed, chip giant Intel released its Q3 2023 financial report. The report showed that Intel's total revenue in the third quarter fell 8% year-on-year to $14.16 billion, marking the seventh consecutive quarter of declining sales, although it was still higher than the market expectation of $13.53 billion. In the second quarter, revenue had previously dropped 15% year-on-year, and the company expects revenue to return to growth in the fourth quarter. However, the sales of the Network and Edge Group (NEX), which includes IoT and other segments, fell 32% year-on-year to $1.5 billion. More importantly, the server chip division, named "Data Center and Artificial Intelligence," has yet to recover growth, with third-quarter revenue declining 10% year-on-year to $3.8 billion. Facing multiple competitive pressures, do you think Intel can turn the tide in the AI era?

In the AI era, can Intel win a comeback?

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U.S. stock futures dipped, with Dow down 0.22%, S&P 500 down 0.14%, and Nasdaq down 0.16%, as Intel's disappointing forecast weighed on the market. Geopolitical concerns also contributed to the decline, leading to safe-haven flows into gold. Intel's shares fell 12.8% after missing revenue estimates, while other major stocks are set to report earnings next week. The Federal Reserve is expected to maintain interest rates, with investors awaiting economic data releases. Intuitive Surgical and SLB reported better-than-expected profits, while silver miners saw gains amid rising silver prices.

- U.S. stock futures declined, positioning the S&P 500 and Nasdaq for a second weekly drop, largely influenced by Intel's disappointing forecast and ongoing geopolitical uncertainties.  
- Intel's shares fell 12.8% in premarket trading as it reported challenges in meeting demand for AI data center chips, despite a strong annual performance.  
- Investors are anticipating January's S&P Global PMI figures and the Federal Reserve's decision on interest rates next week, as market sentiment remains cautious amid fluctuating economic indicators.

US STOCKS-US stock futures dip as Intel dives, geopolitical concerns linger