Stocks on the Backfoot, Intel Beats Earnings | Closing Bell
Speakers
Romaine Bostick
— Anchor, Bloomberg
Carol Massar
— Anchor, Bloomberg
Katie Greifeld
— Anchor, Bloomberg
Summary
The Closing Bell covers a down day for U.S. stocks, with the S&P 500 and Dow lower, while semiconductor stocks outperform thanks to Intel's earnings beat and Texas Instruments' surge. Energy prices rise on Middle East tensions, and defensive sectors like consumer staples and industrials gain.
- U.S. equity markets close lower, S&P 500 down 0.4%.
- Philadelphia Semiconductor Index nears a record high.
- Intel beats Q1 estimates and raises guidance; stock jumps 17% after hours.
- Texas Instruments jumps 19%, a standout in the chip sector.
- Energy prices rise with Brent above $105 and WTI near $96 on Middle East concerns.
- Defensive sectors like consumer staples and industrials outperform.
- Market rally remains narrow, with chip stocks as a safe haven.
- Intel's foundry revenue beats expectations, up 16% year-over-year.
