Intel Leads Premarket Declines As US Futures Slip

• US equity-index futures weaken, with Intel leading premarket declines among S&P 500 names.
• Bitcoin edges above $40,000, clawing back some recent losses.
• Oil prices retreat from a two-month high.

US equity futures slid Friday, led by chipmakers as markets reacted to Intel’s weaker-than-expected outlook for this quarter.

Among S&P 500 names, Intel, KLA, Western Digital, and AMD were among the biggest decliners. Danaher and Thermo Fisher rose.

European stocks advanced, while Asian markets were mostly in the red. Bitcoin clawed back some of its recent losses, managing to stay above the $40,000 level.

Oil prices retreated from a two-month high, and the dollar was mostly steady.

Market overview

• Futures on the S&P 500 index were down 0.2% at 4,912 points as of 5:15 a.m. ET, while similar contracts on the Nasdaq 100 fell 0.6% to 17,534.
• European stocks were higher, with the Euro Stoxx 50 advancing 1.2%. Germany’s DAX 40 index was steady and France’s CAC 40 rallied 1.9%.
• In Asia, Hong Kong’s Hang Seng index dropped 1.6%, while the Shanghai Composite edged 0.1% higher. Japan’s Nikkei 225 dropped 1.3%, while India’s Nifty 50 declined 0.5%.
• In the crypto market, bitcoin moved up by 0.6% to $40,181. Ether was little changed at $2,214.8.
• The Dollar Index, which tracks the greenback against a basket of currencies, slipped 0.1%.
• Ten-year Treasury yields were little changed at 4.11%. US crude oil fell 1% to $76.50 a barrel.