Nasdaq Futures Fall as Intel Sinks on Disappointing Outlook, U.S. PMI Data in Focus

Economic Data and Market Sentiment - The core PCE price index rose +0.2% month-over-month and +2.8% year-over-year in November, aligning with expectations [1] - Q3 GDP growth was revised higher to +4.4% quarter-over-quarter annualized, surpassing the expected +4.3% [1] - November personal spending increased by +0.5% month-over-month, while personal income grew by +0.3% month-over-month, below the expected +0.4% [1] - Initial jobless claims rose by +1,000 to 200,000, compared to the expected 209,000 [1] Stock Market Performance - Wall Street's major indices ended positively, with Meta Platforms rising over +5% and Tesla gaining more than +4% [2] - ARM Holdings surged over +4%, and Advanced Micro Devices rose more than +1% [2] - Datadog jumped over +6% after an upgrade to Buy from Hold with a price target of $160 [2] - Abbott Laboratories slumped more than -10% after weaker-than-expected Q4 net sales [2] Company-Specific Developments - Intel sank more than -13% in pre-market trading due to disappointing Q1 guidance and ongoing manufacturing challenges [3][12] - Nvidia advanced more than +1% after reports that Chinese officials informed major tech firms they could prepare orders for its H200 AI chips [13] - Intuitive Surgical rose over +3% after posting better-than-expected Q4 results [13] - Applied Materials gained more than +1% following an upgrade to Buy from Hold with a price target of $390 [14] - Procter & Gamble rose over +1% after receiving upgrades from JPMorgan and DBS Bank [14] International Market Insights - The Euro Stoxx 50 Index fell -0.45% as travel and technology stocks declined, while telecom stocks, led by Ericsson, rose more than +8% after positive Q4 results [6] - Eurozone business activity grew at a slower-than-expected pace in January, with the Composite PMI at 51.5, below expectations [8][9] - U.K. December Retail Sales rose +0.4% month-over-month and +2.5% year-over-year, exceeding expectations [8] - Japan's Nikkei 225 closed higher after the Bank of Japan maintained its policy rate, with the core consumer inflation remaining above the 2% target [10][11]