U.S. stocks finish mixed as Intel plunge offsets tech gains

Washington [US], January 24: U.S. equities delivered a mixed performance on Friday, as a significant sell-off in a major chipmaker tempered broader gains driven by a resilient technology sector and stabilizing geopolitical sentiment.
The Dow Jones Industrial Average fell 0.58 percent to 49,098.71. The S&P 500 added 0.03 percent to 6,915.61, while the Nasdaq Composite Index rose 0.28 percent to 23,501.24.
Sector performance was largely positive, with seven of the 11 primary S&P 500 sectors finishing in the green. Materials and consumer discretionary led the gainers, advancing 0.86 percent and 0.73 percent, respectively. However, the financial and industrial sectors faced headwinds, declining 1.38 percent and 0.80 percent.
The technology sector saw a sharp divergence in performance. Industry leaders such as Advanced Micro Devices and Nvidia supported the Nasdaq's rise, gaining more than 2 percent and 1 percent, respectively, alongside a boost for Microsoft.
In contrast, Intel shares plummeted 17.03 percent, marking their worst session since August 2024, after the company issued a weak first-quarter outlook. Intel CEO Lip-Bu Tan informed analysts that the firm is struggling to meet product demand and that production efficiency remains below targets, describing the turnaround as a "multiyear journey."
Meanwhile, Goldman Sachs warned that the massive Arctic storm approaching the United States could severely disrupt natural gas supplies. This potential supply shock comes at a time when domestic heating demand is projected to surge.
In the bond market, the yield on the 10-year U.S. Treasury note continued its slight downward trend, slipping below 4.24 percent. Market participants are now bracing for a pivotal week ahead, featuring a high concentration of corporate earnings reports alongside the Federal Reserve's interest rate decision.
Political attention is also focused on the central bank's leadership, as U.S. President Donald Trump announced Thursday that he has concluded interviews for the next Federal Reserve chair and intends to name a successor to Jerome Powell "soon."
Source: Xinhua