by Augustin Turpin
(Reuters) – The New York Stock Exchange opened lower on Friday as U.S. inflation figures, in line with expectations, did not fully offset the negative impact of Intel’s disappointing forecasts for the semiconductor sector .
In early trading, the Dow Jones index lost 31.95 points, or 0.08%, to 38,017.18 points and the broader Standard & Poor’s 500 fell 0.08% to 4,890.33 points.
The Nasdaq Composite lost 0.22%, or 34.69 points, to 15,475.81.
Intel announced Thursday that it anticipates first-quarter revenue that should be more than $2 billion lower than market expectations, in a context of uncertain demand for its chips intended for traditional servers and computers.
These announcements led to a decline in the shares of the Santa Clara, California-based group, which fell 10% at 2:35 p.m. GMT, dragging down other players in the semiconductor sector.
Advanced Micro Devices, Nvidia, Broadcom, Micron Technology and Marvell Technology lost between 0.8% and 2.4% in early trading.
The publication of the report from the US Department of Commerce on the PCE inflation index for December shows an increase of 2.6% over one year and 0.2% over one month, in line with expectations.
These data, which signal an easing of pressure on prices, reassured investors an hour before the bell, allowing the indices to open in the green.
“I don’t see much that indicates a drop in interest rates, but nothing either that indicates a rise in rates, and that’s enough for now,” said Kim Forrest, an analyst at Bokeh Capital Partners .
In terms of values, the shares of large Chinese groups listed in the United States fell on profit taking after three successive sessions of gains. Alibaba, JD.com and Pinduoduo fell between 0.7% and 1.2%.
Western Digital lost 3.1% after posting a larger-than-expected adjusted quarterly loss on Thursday, due to the impact of restructuring implemented by the company in its flash and HDD activities.
Visa fell 1.2% after publishing its results on Thursday and despite an 8% increase in its profit in the first quarter.
(Written by Augustin Turpin, edited by Sophie Louet)
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