Intel earnings set to test stock rally
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Precious metals continued to dominate Wall Street headlines on Friday as silver surged through the $100-per-ounce threshold and traded around $101 per ounce by midday in New York, marking a staggering 230% gain over the past year.
Intel reported fourth-quarter earnings on Thursday that beat Wall Street expectations but offered soft guidance for the current quarter.
Intel shares tumbled Friday after the chipmaker's outlook disappointed, erasing much of the stock's gains over the past few weeks. Wall Street analysts suggested some of the investor enthusiasm behind the stock's recent rally may have been premature.
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For the most part, Wall Street analysts maintained a hold-equivalent rating on Intel after supply constraints weighed on the company's current-quarter outlook.
Wall Street is wrapping up a volatile week mixed with the Dow lower and S&P 500 higher. Investors are digesting disappointing results from Intel and Capital One Financial, while Big Tech takes center stage next week. Caroline Woods is a Senior Host at TheStreet, where she covers markets and the economy from the New York Stock Exchange.