9:55am: Positive start US stocks opened higher Friday following a cooler-than-expected inflation report, keeping investors optimistic about a potential interest rate cut from the Federal Reserve next week. The Dow Jones rose 363 points, or 0.8%, to 47,097, while the S&P 500 added 51 points, also up 0.8%, reaching 6,790.
Intel Corporation delivered a strong double beat in Q3, signaling a successful turnaround and renewed investor confidence. INTC's 18A manufacturing process and strategic partnerships, including Microsoft, position it to reclaim technological leadership. Valuation remains elevated and turnaround risks persist, but government backing and profitability improvements support cautious optimism.
Intel shares jumped nearly 10% in Frankfurt and were up more than 8% in US pre-market trading on Friday after the chipmaker reported better-than-expected third-quarter results, marking its first profit after six consecutive quarters of losses. The company's return to profitability was driven by aggressive cost cuts and renewed investor confidence following recent multibillion-dollar investments.
The Nasdaq is expected to lead US markets higher when trading gets underway after Intel reported third-quarter results that beat expectations, and as investors turn their attention to long-delayed consumer inflation data. Ahead of the open, Nasdaq futures are up 0.5%, with those for the S&P gaining 0.3%, while Dow Jones futures are lagging with a 0.2% gain.
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