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REUTERS/Dado Ruvic/Illustration Acquire Licensing RightsBRUSSELS, Sept 22 (Reuters) - Intel (INTC.O) was fined 376 million euros ($400 million) on Friday in an EU antitrust case stemming from actions the U.S. chipmaker took between 2002 and 2006. An initial record fine of 1.06 billion euros in 2009 was thrown out last year by the Luxembourg-based General Court, Europe's second highest. The court, however, agreed with the European Commission that Intel illegally excluded rivals from the market which prompted the EU antitrust watchdog to re-open the case. "The General Court confirmed that Intel's naked restrictions amounted to an abuse of dominant market position under EU competition rules," the European Commission said in a statement. The Commission has appealed the General Court's ruling last year at the EU Court of Justice, Europe's top court.

Persons: Dado Ruvic, chipmaker, Court's, Europe's, Bart Meijer, Jane Merriman, Jason Neely Organizations: REUTERS, Rights, Intel, European Commission, Devices, HP, Lenovo, HK, EU, Justice, Thomson Locations: Rights BRUSSELS, Luxembourg

LONDON (AP) — European Union antitrust enforcers slapped Intel on Friday with a fresh $400 million fine in a long-running legal fight that the chipmaker appeared to have won last year. The EU’s General Court last year annulled the original decision, saying that the commission's analysis of the rebates didn't meet legal standards. However, the court confirmed that the sales restrictions amounted to an abuse of Intel's dominant market position. It couldn't decide how the total fine could be divided up between the two offenses, leaving the commission to come up with a new number. Political Cartoons View All 1173 Images“The lower fine imposed by today’s decision reflects the narrower scope of the infringement compared to the 2009 Commission decision,” the EU watchdog said.

Persons: today’s Organizations: —, European, AMD Locations: Santa Clara , California

☆ Intel has been 'way behind' for years: Portfolio manager
▼ + stars: | 2023-09-20 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIntel has been 'way behind' for years: Portfolio managerJason Ware of Albion Financial Group calls Intel's new AI chip a "yawn" but says that AI is a long-term, durable trend.

Persons: Jason Ware Organizations: Intel, Albion Financial

The capability, which Intel showed off during a software developer conference held in Silicon Valley, could let businesses and consumers test ChatGPT-style technologies without sending sensitive data off their own computer. It is made possible by new AI data-crunching features built into Intel's forthcoming "Meteor Lake" laptop chip and from new software tools the company is releasing. Intel said on Tuesday that it was building a new supercomputer that would be used by Stability AI, a startup that makes image-generating software. China's Alibaba Group Holdings (9988.HK) is using its newest central processors to serve up chatbot technology, Intel said. If Intel Chief Gelsinger can make AI "so that anyone can use it, that creates a much bigger market for chips – the chips that he makes," Hutcheson said.

Persons: Arnd, Taylor Swift, Pat Gelsinger, Gelsinger, Sachin Katti, Dan Hutcheson, TechInsights, Hutcheson, Stephen Nellis, Max Cherney, Peter Henderson, Lincoln, Josie Kao Organizations: Intel Corporation, REUTERS, JOSE, Intel, ., Taiwan Semiconductor Manufacturing, Nvidia, Stability, Alibaba, Holdings, Meta, Reuters, Thomson Locations: Davos, Switzerland, California, Silicon Valley, HK, San Francisco, San Jose , California

"I was literally living under the poverty line for like four years, but it was a good experience," he says. Hassam Sheikh, 33, earns about $250,000 per year as an AI research scientist. In May 2020, Sheikh began an internship at Intel Labs that would, about seven months later, turn into a full-time gig as a research scientist. In addition to his $187,000 annual base salary, Sheikh receives bonuses and stock compensation which, in 2023, have him on track to earn about $250,000. When he's not working on machine learning, he's likely working around the house.

Persons: Hassam Sheikh's, didn't, Sheikh, —, Hassam Sheikh, Clint Boland, I've, hasn't, Deborah Donatella, Diana Wintour —, Sheikh stashes, he's, it's, there's Organizations: CNBC, University of Central, Intel Labs, University of Lahore, University of Manchester, Intel, UCF, Amazon Music, Walmart, Home, Michelin Locations: Orlando , Florida, University of Central Florida, That's, Lahore, Pakistan, Orlando, United States

☆ Qualcomm to supply Apple with 5G chips until 2026 under new deal
▼ + stars: | 2023-09-11 | by ( Stephen Nellis | ) www.reuters.com time to read: +2 min

REUTERS/Dado Ruvic/Illustration/File Photo/File Photo Acquire Licensing RightsSept 11 (Reuters) - Qualcomm (QCOM.O) on Monday said it had signed a new deal with Apple (AAPL.O) to supply 5G chips to the iPhone maker until at least 2026. Qualcomm, whose shares rose more than 8% in premarket trading, is the leading designer of what are known as modem chips that connect phones to mobile data networks. The San Diego, California-based firm previously signed a supply deal with Apple in 2019, after the two companies settled a protracted legal battle. Under the deal announced Monday, Qualcomm said it will supply Apple with chips for phones that will come out each year until 2026. Qualcomm also said that a patent licensing deal it signed with Apple in 2019 remains in place.

Persons: Dado Ruvic, Apple's, Stephen Nellis, Yuvraj Malik, Miral Organizations: Qualcomm, REUTERS, Apple, Thomson Locations: San Diego , California, San Francisco, Bengaluru

U.S. President Joe Biden attends a meeting with Vietnam's Communist Party General Secretary Nguyen Phu Trong, at the Communist Party of Vietnam Headquarters in Hanoi, Vietnam, September 10, 2023. Deals unveiled by the White House during the trip include Vietnam Airlines' purchase of 50 Boeing 737 Max jets, in an agreement that it said was worth $7.8 billion, in line with an earlier Reuters report. The White House also announced plans by Microsoft (MSFT.O) to make a "generative AI-based solution tailored for Vietnam and emerging markets." The White House also highlighted the number of chip-related investments by U.S. firms in Vietnam, including plans by Marvell and Synopsys (SNPS.O) to build chip design centres in the country. U.S. State Secretary Antony Blinken and Vietnam's investment minister Nguyen Chi Dung chaired the meeting, which was followed by discussions with Biden and Vietnam's Prime Minister Pham Minh Chinh.

Persons: Joe Biden, Nguyen Phu Trong, Evelyn Hockstein, Joe Biden's, MoMo, Biden, Vietnam's FPT, Antony Blinken, Nguyen Chi Dung, Pham Minh Chinh, Dung, Phuong Nyugen, Nandita Bose, Francesco Guarascio @fraguarascio, Edwina Gibbs Organizations: Vietnam's Communist Party General, Communist Party of, REUTERS, Rights, Google, Intel, Marvell, Boeing, Innovation, Investment, Nasdaq, Vietnam Airlines, White, Max, Microsoft, Nvidia, Intel's, Honeywell, State, Vietnam's, Thomson Locations: Communist Party of Vietnam, Hanoi, Vietnam, Rights HANOI, chipmaking, Washington, China, Taiwan, U.S, United States

U.S. President Joe Biden attends a meeting with Vietnam's Communist Party General Secretary Nguyen Phu Trong, at the Communist Party of Vietnam Headquarters in Hanoi, Vietnam, September 10, 2023. Senior executives from Google (GOOGL.O), Intel (INTC.O), Amkor (AMKR.O), Marvell (MRVL.O), GlobalFoundries (GFS.O) and Boeing (BA.N) are attending the Vietnam-U.S. Newly unveiled deals by the White House include plans by Microsoft (MSFT.O) to make a "generative AI-based solution tailored for Vietnam and emerging markets." The White House also highlighted the number of chip-related investments by U.S. firms in Vietnam, including plans by Marvell and Synopsys (SNPS.O) to build chip design centres in the country. Vietnam Airlines will also purchase 50 Boeing 737 Max jets, the White House said, in an agreement that a source told Reuters was valued at about $7.5 billion.

Persons: Joe Biden, Nguyen Phu Trong, Evelyn Hockstein, Joe Biden's, MoMo, Antony Blinken, Nguyen Chi Dzung, Biden, Pham Minh Chinh, Vietnam's FPT, Phuong Nyugen, Francesco Guarascio @fraguarascio, Edwina Gibbs Organizations: Vietnam's Communist Party General, Communist Party of, REUTERS, Rights, Google, Intel, Marvell, Boeing, Innovation, Investment, Nasdaq, Vietnam Airlines, State, Vietnam's, White, Microsoft, Nvidia, Intel's, Max, Reuters, Honeywell, Thomson Locations: Communist Party of Vietnam, Hanoi, Vietnam, Rights HANOI, U.S, chipmaking, Washington, China, Taiwan . U.S

☆ New benchmark tests speed of running AI models
▼ + stars: | 2023-09-11 | by ( Max A. Cherney | ) www.reuters.com time to read: +2 min

[1/2] An AI (Artificial Intelligence) sign is seen at the World Artificial Intelligence Conference (WAIC) in Shanghai, China July 6, 2023. REUTERS/Aly Song Acquire Licensing RightsSept 11 (Reuters) - An artificial intelligence benchmark group called MLCommons unveiled the results on Monday of new tests that determine how quickly top-of-the-line hardware can run AI models. The benchmark simulates the "inference" portion of AI data crunching, which powers the software behind generative AI tools. Nvidia's top submission for the inference benchmark build around eight of its flagship H100 chips. Nvidia has dominated the market for training AI models, but hasn't captured the inference market yet.

Persons: Aly, hasn't, Dave Salvator, Eitan Medina, Max A, Leslie Adler Organizations: Artificial Intelligence, REUTERS, Nvidia Corp, Intel Corp, CNN, Nvidia, Habana, Intel, Google, Thomson Locations: Shanghai, China, San Francisco

☆ CNBC Daily Open: Employers are holding on to workers — and it’s costing them
▼ + stars: | 2023-09-08 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +3 min

CFOTO | Future Publishing | Getty ImagesThis report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Initial jobless claims fell last week to a seasonally adjusted 216,000, according to a report by the U.S. Labor Department. In other words, the labor market still looks tight because employers are laying off fewer people and paying them more. There's now a 39.9% chance rates will go up 25 basis points then, according to the CME FedWatch tool.

Persons: There's, Brad McMillan, McMillan, Jeff Cox Organizations: AMD, Apple, CNBC, U.S . Labor Department, Federal, Nvidia, Devices, Seagate, Nasdaq, Dow Jones Industrial, Intel's, Commonwealth Financial Locations: Shanghai, China, U.S

☆ Intel to offer foundry services to Tower Semiconductor after acquisition deal falls through
▼ + stars: | 2023-09-05 | by ( ) www.reuters.com time to read: +2 min

FILE PHOTO: Tower Semiconductor is seen on smartphone in front of displayed Intel logo in this illustration taken, February 15, 2022. REUTERS/Dado Ruvic/Illustration/File Photo/File Photo Acquire Licensing RightsSept 5 (Reuters) - Intel (INTC.O) will offer foundry services to Tower Semiconductor (TSEM.TA) in a new deal that will see the Israeli contract chipmaker invest $300 million in Intel's New Mexico factory, the companies said on Tuesday. "We see this as a first step towards multiple unique synergistic solutions with Intel," Tower CEO Russell Ellwanger said. The deal also strengthens Intel's foundry capacity as it advances on rivals such as industry leader Taiwan Semiconductor Manufacturing Co. In the second quarter, Intel's foundry business reported revenue of $232 million, up from $57 million a year earlier.

Persons: Dado Ruvic, Russell Ellwanger, Yuvraj Malik, Shweta Agarwal Organizations: Semiconductor, REUTERS, Intel, Tower Semiconductor, Taiwan Semiconductor Manufacturing, Thomson Locations: Intel's New Mexico, China, New Mexico, Ohio, Bengaluru

People are seen on Wall Street outside the New York Stock Exchange (NYSE) in New York City, U.S., March 19, 2021. Focus now shifts to a report on the personal consumption expenditures price index, the Fed's preferred inflation gauge, to be released on Thursday, and non-farm payrolls data due on Friday. According to preliminary data, the S&P 500 (.SPX) gained 27.49 points, or 0.62%, to end at 4,433.20 points, while the Nasdaq Composite (.IXIC) gained 114.49 points, or 0.84%, to 13,705.13. Micron's and Intel's shares gained for much of the session. Horizon's shares rose.

Persons: Brendan McDermid, Goldman Sachs, Jerome Powell, Powell didn't, Ross Mayfield, Gina Raimondo, Wang Wentao, Shristi Achar, Noel Randewich, Shounak Dasgupta, David Gregorio Our Organizations: New York Stock Exchange, REUTERS, Investment, Baird, Nvidia, Creative Planning, Nasdaq, Dow Jones, JD.com, Baidu, U.S . Commerce, Intel, Micron, Chinese Commerce, U.S . Federal Trade Commission, Horizon Therapeutics, Thomson Locations: New York City, U.S, China, Bengaluru, Oakland, Calif

People are seen on Wall Street outside the New York Stock Exchange (NYSE) in New York City, U.S., March 19, 2021. Horizon's shares rose 5.5%. Advancing issues outnumbered decliners for a 3.82-to-1 ratio on the NYSE and a 1.78-to-1 ratio on the Nasdaq. The S&P index recorded seven new 52-week highs and no new low, while the Nasdaq recorded 43 new highs and 101 new lows. Reporting by Shristi Achar A and Amruta Khandekar in Bengaluru; Editing by Shounak DasguptaOur Standards: The Thomson Reuters Trust Principles.

Persons: Brendan McDermid, Stocks, Jerome Powell, Roosevelt Bowman, Gina Raimondo, Wang Wentao, Goldman Sachs, decliners, Shristi Achar, Shounak Dasgupta Organizations: New York Stock Exchange, REUTERS, Dow, Nasdaq, Bernstein Private Wealth Management, Traders, Fed, Nvidia, U.S, Baidu, U.S . Commerce, Intel, Micron, Chinese Commerce, Intel's, Dow Jones, U.S . Federal Trade Commission, Horizon Therapeutics, Creative Planning, NYSE, Thomson Locations: New York City, U.S, China, Bengaluru

People are seen on Wall Street outside the New York Stock Exchange (NYSE) in New York City, U.S., March 19, 2021. The S&P 500 communication services (.SPLRCL) and technology (.SPLRCT) sectors led gains among the 11 major S&P sub-indexes, rising 1.2% and 0.8% respectively. Horizon's shares rose 5.8%. Advancing issues outnumbered decliners for a 5.47-to-1 ratio on the NYSE and a 2.95-to-1 ratio on the Nasdaq. Reporting by Shristi Achar A and Amruta Khandekar in Bengaluru; Editing by Shounak DasguptaOur Standards: The Thomson Reuters Trust Principles.

Persons: Brendan McDermid, Stocks, Jerome Powell, Peter Andersen, Gina Raimondo, Wang Wentao, decliners, Shristi Achar, Shounak Dasgupta Organizations: New York Stock Exchange, REUTERS, Dow, Nasdaq, Microsoft, Andersen Capital Management, Traders, U.S, PDD Holdings, Baidu, U.S . Commerce, Intel, Micron, Chinese Commerce, Intel's, Dow Jones, Xpeng, U.S . Federal Trade Commission, Horizon Therapeutics, NYSE, Thomson Locations: New York City, U.S, China, Bengaluru

☆ Nvidia earnings scare away AMD, Intel investors as legacy chipmakers lose ground in AI
▼ + stars: | 2023-08-24 | by ( Kif Leswing | ) www.cnbc.com time to read: +4 min

Developers in the world of artificial intelligence can't get enough of Nvidia's processors. "NVDA Data Center revenues are now expected to be more than double INTC+AMD Data Center revenues combined, underscoring the growing importance of accelerators for today's Data Center customers," Deutsche Bank analyst Ross Seymore wrote in a note on Thursday. Nvidia is now expected to post $12 billion in data center sales in the current quarter, according to FactSet data. AMD and Intel are trying to stay relevant in the AI market, but it's a struggle. Like Intel, AMD faces a timing challenge.

Persons: Nvidia's, Ross Seymore, Pat Gelsinger, it's, Raj Joshi, Morgan Stanley, Joseph Moore, Moore Organizations: Nvidia, AMD, Intel, Meta, Microsoft, today's Data Center, Deutsche Bank, Moody's Investors Services, Marvel Locations: French

Tower Semiconductor is seen on smartphone in front of displayed Intel logo in this illustration taken, February 15, 2022. Last year, DuPont De Nemours Inc (DD.N) scrapped its $5.2 billion deal to buy electronics materials maker Rogers Corp (ROG.N) after delays in securing approval from Chinese regulators. But Gelsinger also said Intel was investing in its foundry business, which makes chips for other companies, irrespective of the Tower deal. Investors had given up hope on the Tower deal as a result. It has committed to trimming $3 billion in costs this year, with an aim of saving between $8 billion and $10 billion by the end of 2025.

Persons: Dado Ruvic, Pat Gelsinger, Gelsinger, Benjamin Netanyahu, Anirban Sen, Max Cherney, Jamie Freed Organizations: Semiconductor, REUTERS, Intel Corp, chipmaker, Intel, State Administration, Market, DuPont De Nemours Inc, Rogers Corp, Investors, Nasdaq, Taiwan Semiconductor Manufacturing, Thomson Locations: China, United States, Taiwan, Israel, New York, San Francisco

☆ Intel adds Synopsys IP to advanced contract manufacturing
▼ + stars: | 2023-08-14 | by ( Max A. Cherney | ) www.reuters.com time to read: +1 min

REUTERS/Dado Ruvic/Illustration/File PhotoAug 14 (Reuters) - Chip design tools maker Synopsys (SNPS.O) has signed a deal to bring its technical building blocks to the advanced contract manufacturing Intel (INTC.O) offers, the companies said on Monday. The two companies said Synopsys would offer a portfolio of designs that will work with Intel's advanced manufacturing capabilities Intel 3, and Intel 18A. Intel and Synopsys said that there was a framework in place for making the intellectual property available on future manufacturing processes. The partnership between Intel and Synopsys important step for Intel Foundry Services (IFS), its contract manufacturing business, to become a viable alternative to Taiwan Semiconductor Manufacturing Co Ltd (2330.TW) or Samsung Electronics Co Ltd (005930.KS). Intel launched IFS in 2021, and it reported revenue of $232 million in the second quarter of this year.

Persons: Dado Ruvic, Synopsys, Steve Leibson, Max A, Marguerita Choy Organizations: REUTERS, Intel, Intel Foundry Services, Taiwan Semiconductor Manufacturing Co, Samsung Electronics Co, Tirias Research, Thomson Locations: San Francisco

☆ Nvidia unveils an update to a new A.I. chip that hasn't even shipped yet — an aggressive move to keep its crown
▼ + stars: | 2023-08-09 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +9 min

"No one is coming for Nvidia on AI, period, any time soon," Stifel analyst Ruben Roy told CNBC in an interview Wednesday. The new version of Grace Hopper primarily delivers improvements in memory capacity and bandwidth compared with the first-generation product. In practice, improving the memory capacity and bandwidth of the Grace Hopper Superchip should help AI applications run more efficiently and smoothly. Volume production of the improved Grace Hopper Superchip is expected in the second quarter of 2024, according to Nvidia. Open-source software Nvidia's closed-source CUDA software platform – along with a library of pre-trained AI models — has helped establish the company's AI dominance.

Persons: it's, Grace Hopper Superchip, Ruben Roy, Grace Hopper, ChatGPT, Roy, Hopper, Nvidia, Pat Gelsinger, Nvidia's, Omniverse, Jim Cramer, Nvidia hasn't, Jim, enabler —, Jim Cramer's, Jensen Huang, Walid Berrazeg Organizations: Nvidia, Club, Devices, CNBC, Microsoft, Bank of America, AMD, Nvidia DGX, Intel, BMW, Computer, Getty Locations: Taipei

☆ Meet a millennial mom who resurrected her career with a 10-day crash course on semiconductors. She landed a new job, learned new skills, and says the pay outweighs long hours.
▼ + stars: | 2023-08-06 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +10 min

She enrolled in a 10-day semiconductor training course and landed a new job at Intel soon after. A few weeks later, she told Insider, she received an email about the "Quick Start" program — a 10-day crash course on how to be a semiconductor processing technician. The Quick Start program's website says that semiconductor companies will hire over 20,000 workers in Arizona in the coming years. Of 240 former Quick Start students who filled out an employment outcome form as of June 30th, 75, or 31%, said they had been "hired in field," per MCCC. "I start work at 5:45 AM, and I get off at 6:15 PM," she said.

Persons: Lisa Strothers, chipmakers, Strothers, Biden, Cesar Becerra, GlobalFoundries, —, Lisa Strothers Lisa Strothers, Intel's, she'd, Cesar Becerra Cesar Becerra, I'm, that's, there's Organizations: Intel, Schools, Service, Taiwan Semiconductor Manufacturing Company, Mesa Community College, Science, Deloitte, Micron, MCCC, Labor Statistics Locations: Wall, Silicon, Arizona, Arizona's Maricopa County, Maricopa County, China, Taiwan, Phoenix

☆ TSMC leads in advanced chip packaging wars, LexisNexis patent data says
▼ + stars: | 2023-08-01 | by ( Max A. Cherney | ) www.reuters.com time to read: +3 min

Advanced chip packaging is a crucial technology that squeezes the most horsepower from the latest chip designs, and is crucial to chip contract manufacturers vying for business. The data from LexisNexis, released last month, indicates that TSMC and Samsung have steadily invested in advanced packaging technology for years, as Intel did not keep pace with its own filings. Packaging technology enabled the industry to stitch together several chips called "chiplets" - either stacked or adjacent to one another - within the same container. Samsung has been investing in advanced packaging for years but the South Korean chip giant established a dedicated team to pursue advanced packaging in December 2022, Moonsoo Kang, the unit's chief, said in a statement. Intel disputed the idea that the size of TSMC's patent portfolio indicated that it had developed more advanced technology.

Persons: Dado Ruvic, TSMC, ”, Marco Richter, Moonsoo Kang, Benjamin Ostapuk, Max A, Matthew Lewis Organizations: Taiwan Semiconductor Manufacturing, REUTERS, Reuters, Samsung Electronics, Intel, LexisNexis, Samsung, Devices, Thomson Locations: San Francisco

☆ Companies double down on AI in June-quarter analyst calls
▼ + stars: | 2023-07-31 | by ( Noel Randewich | ) www.reuters.com time to read: +3 min

S&P 500 (.SPX) companies that led in discussion of AI during quarterly conference calls with analysts earlier this year have outdone themselves in their latest quarterly calls. Following Intel's (INTC.O) report late on Thursday, executives and analysts on its call mentioned AI 58 times, up from 15 mentions in its previous call in April. Reuters Graphics Reuters GraphicsParticipants on Alphabet's (GOOGL.O) analyst call on Tuesday mentioned AI 62 times, up from 52 times three months ago. The same day, AI was mentioned 58 times on Microsoft's (MSFT.O) call, up from 35 times in its previous call. Technology heavyweights account for the conference calls with the greatest discussion of AI so far this quarter, but businesses not widely viewed as "tech companies" have also talked heavily about AI.

Persons: Aly, Equifax, Noel Randewich, Aurora Ellis Organizations: Artificial Intelligence, REUTERS, Intel, Nvidia, Reuters Graphics Reuters, Nasdaq, Reuters, Technology, Moody's Corp, P Global Inc, Travelers Companies, Omnicom, Digital Realty, Thomson Locations: Shanghai, China

For the week, the Nasdaq climbed 2.02%, while the S&P rose 1.01%, and the Dow gained 0.66%. The gains gave the S&P 500 its highest close since April 4, 2022. Barclays said investors flocked to equities this week, with inflows of $10 billion to U.S.-listed stocks, according to a note to clients. Advancing issues outnumbered declining ones on the NYSE by a 2.64-to-1 ratio; on Nasdaq, a 2.81-to-1 ratio favored advancers. The S&P 500 posted 27 new 52-week highs and two new lows; the Nasdaq Composite recorded 83 new highs and 84 new lows.

Persons: Scott Ladner, Win Murray, Diamond Hill, Jerome Powell, Brendan McDermid, Peers, Dow, Jim Farley, Carolina Mandl, Kamdar, Johann M, Maju Samuel, Deepa Babington Organizations: Dow, Nasdaq, Big Tech, Federal Reserve, Horizon Investments, Dow Jones, Barclays, New York Stock Exchange, REUTERS, Peers Nvidia, Marvell Technology, Treasury, Bank of Japan, Procter & Gamble, Ford, Enphase Energy, Juniper Networks, Exxon Mobil, Chevron, Reata Pharmaceuticals, NYSE, Thomson Locations: China, U.S, New York City, New York, Bengaluru

U.S. annual inflation slowed considerably in June, likely pushing the Federal Reserve closer to ending its fastest interest rate hiking cycle since the 1980s, data showed on Friday. Barclays said investors flocked to equities this week, with inflows of $10 billion to U.S.-listed stocks, according to a note to clients. On the earnings front, Intel's (INTC.O) results and forecast pointed to an improving PC market, sending the chipmaker's shares up. The yield on the U.S. 10-year note slipped from 4% hit in the previous session, lifting megacap growth and technology stocks sharply higher. Reata Pharmaceuticals (RETA.O) surged after Biogen (BIIB.O) agreed to buy the rare disease drugmaker for nearly $6.5 billion.

Persons: Scott Ladner, Win Murray, Diamond Hill, Jerome Powell, Peers, Dow, Jim Farley, Carolina Mandl, Kamdar, Johann M, Maju Samuel, Deepa Babington Organizations: Horizon Investments, Federal Reserve, Nasdaq, Dow Jones, Barclays, Peers Nvidia, Marvell Technology, Treasury, Bank of Japan, Procter & Gamble, Ford, Enphase Energy, Juniper Networks, Exxon Mobil, Chevron, Reata Pharmaceuticals, Thomson Locations: China, U.S, New York, Bengaluru

U.S. annual inflation slowed considerably in June, likely pushing the Federal Reserve closer to ending its fastest interest rate hiking cycle since the 1980s. Most of the 11 major S&P 500 sectors posted gains, led by communications services (.SPLRCL), which gained 2.01% as big tech companies kept an upward trend after announcing earnings earlier this week. More than half of the firms listed on the S&P 500 have reported second quarter earnings as of Friday, out of which 78.7% have surpassed analyst expectations, according to Refinitiv data. Advancing issues outnumbered declining ones on the NYSE by a 2.31-to-1 ratio; on Nasdaq, a 2.62-to-1 ratio favored advancers. The S&P 500 posted 26 new 52-week highs and two new lows; the Nasdaq Composite recorded 73 new highs and 69 new lows.

Persons: Win Murray, Diamond Hill, Peers, Dow, Jim Farley, Bansari Mayur Kamdar, Johann M, Maju Samuel, Deepa Babington Organizations: Dow, Nasdaq, Federal Reserve, Peers Nvidia, Marvell Technology, Treasury, Bank of Japan, Big Tech, Dow Jones, Procter & Gamble, Ford, Enphase Energy, Juniper Networks, Exxon Mobil, Chevron, Reata Pharmaceuticals, NYSE, Thomson Locations: China, Bengaluru

☆ Stock Market News Today: Dow, Nasdaq Rise; Intel, Ford Stocks in Focus
▼ + stars: | 2023-07-28 | by ( ) www.wsj.com time to read: +1 min

U.S. stock indexes rose Friday, lifted by tech shares, as blue-chip earnings and fresh inflation data rolled in. Big tech stocks, including Alphabet and Meta Platforms, powered ahead. Intel gained after it posted a return to profit late Thursday on the back of a resurgent PC market . Tesla and other EV stocks rose , while Ford retreated. Big tech shares were among the day's leading gainers.

Persons: Ford, Dow industrials, Dow Organizations: Intel, Chevron, Exxon Mobil, Federal, Nasdaq, Big, Meta, Treasury, Overseas, Technology Locations: Big, ., Japan's, Japan, Europe

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