Wall Street didn't hit the grand slam this week: no 7th consecutive gain, no 6th record close in a row for either the S&P or the Nasdaq (-0.35%)... but there were several consolation prizes.
First of all, the week ended on a clear upward trend, over +1% for these 2 indices, a new intraday all-time high for the S&P500 at 4.906.7Pts... and that's what saves this last session of the week, a double absolute intraday record (38,214) and closing record (38,109) for the Dow Jones, symbolically celebrating on all US news channels the historic zenith of America's most famous and oldest index.

The Nasdaq's record-breaking run was halted on Thursday evening - shortly after the close - by Intel's plunge (-8% in the after-hour, then -11.9% in real conditions on Friday), as the company unveiled median sales forecasts 15% below the $14.2 billion expected by consensus.

Intel dragged down sector leaders such as Nvidia (-1%), AMD (-1.7%), Broadcom (-2%) and Qualcomm (-2.4%), Microchip (-3.1%) and Applied Materials (-3.3%).. the 'SOXX' ETF dropped -2.7%.
The Nasdaq remained supported by AirbNb +5.4%, Comcast +2.2%, Netflix +1.7%, Amazon +1%.

The most eagerly awaited figure of the week in the USA did not disappoint: the PCE price inflation index stood at +2.6% at annual rate in December 2023, a stable rate compared with November, according to the Commerce Department.

Excluding food and energy, two usually volatile categories, however, the index fell from +3.2% to +2.9% month-on-month, again in line with expectations, according to the broke

Another very strong figure: consumer spending in the US rose by 0.7% last month compared with November, on income growth of just 0.3% month-on-month, according to the Commerce Department.

Growth in consumer spending was therefore slightly higher than the 0.5% anticipated by Jefferies, while growth in US household income was fully in line with the broker's forecast

On the bond front, the 10-year T-Bond fell (+1Pts) to around 4.142%, while the 2-year was up +4Pts to 4.355%.... and ends the week on its worst levels... without prejudice to the US indices.

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