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Futures dip as Intel forecast weigh on chip stocks; inflation data eyed

Published by
Reuters

By Ankika Biswas and Johann M Cherian (Reuters) – U.S. stock index futures slipped on Friday as chip stocks sagged on a dour revenue forecast from Intel, while a crucial inflation print that could influence the Federal Reserve’s monetary policy outlook topped investors’ watch list. Intel lost 10.3% in premarket trading after forecasting that its first-quarter revenue could miss estimates by over $2 billion, driving losses between 0.8% and 1.6% in other chip stocks including Nvidia, Advanced Micro Devices, Qualcomm and Micron Technology. This, along with Tesla’s growth warning on Wednesday, lik…

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