(CercleFinance.com) – Wall Street should open lower on Friday morning, penalized by Intel’s disappointing outlook which penalizes the entire semiconductor sector, which has until now been the market engine since the start of the year.
A little more than half an hour before the opening, ‘futures’ contracts on the major New York indices lost between 0.2% and 0.5%, a harbinger of a downturn at the start of the session. moderate.
The semiconductor compartment should particularly suffer following the publication of Intel, which announced last night that it had exceeded market forecasts in the fourth quarter, but reported less solid forecasts than expected.
According to IG analysts, this disappointment could be the first sign that markets have overpredicted the chip and artificial intelligence sectors.
As such, the processor manufacturer’s data center and AI activity fell by 10% in the fourth quarter of 2023 compared to 2022.
In the wake of these announcements, Intel’s major competitors such as AMD, Broadcom, Micron Technology and Qualcomm are all expected to be in the red at the opening.
Still in terms of results, American Express and Visa – which also list on the Dow Jones index – also lost ground after the publication of their quarterly accounts.
This morning’s announcement of a further slowdown in inflation in the United States should, however, limit the decline in American markets.
An hour before the opening, the US Department of Commerce reported a further deceleration in inflation as the US Federal Reserve meets next Tuesday for two days.
Excluding food products and energy, two categories that are usually volatile, the ‘PCE’ price index – closely followed by the Fed – increased from +3.2% in November to +2.9% from one month to the next. .
This confirmation of the slowing of inflationary tensions favors the decline in bond yields, with that of ten-year US Treasury bonds returning towards 4.11%.
On the foreign exchange market, the dollar fell back a little against the euro, which rose above 1.0870, after its rise in recent days which was due to the anticipation of a less accommodating posture than expected from the Fed.
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