23.01.202614:36:56UTC+00US Stocks Retreat

On Friday, US stock markets experienced a downturn, with the S&P 500 and Nasdaq both decreasing by 0.1%, while the Dow Jones dropped by nearly 270 points. This cautious sentiment followed consecutive days of gains in major indices, spurred by a reduction in geopolitical tensions. The most significant declines were seen in the financial and health sectors, whereas the energy sector showed relative strength. Intel's shares plummeted by over 14% after the company forecasted weaker-than-expected results and warned of persistent challenges in manufacturing. In contrast, Nvidia saw a 1.6% rise and AMD a 2.7% increase, boosted by news that Nvidia's CEO plans to visit China soon, potentially reopening a vital market for the company. Similarly, Intuitive Surgical's shares climbed by 2.5% after surpassing earnings and revenue forecasts. Later today, investors will closely follow the preliminary S&P Global PMI data for the US. For the week, the S&P 500 is down 0.4%, and the Nasdaq has lost 0.3%, both on track for their second consecutive week of declines, while the Dow Jones remains relatively unchanged.