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Intel (INTC.O) CFO Zinsner: The custom chip business is projected to grow by more than 50% by 2025 and achieved annualized revenue of over $1 billion in the fourth quarter.On January 23, the U.S. House of Representatives passed a comprehensive appropriations bill for fiscal year 2026, overcoming demands from Democrats and divisions within the Republican Party. A mini-appropriations package comprising three bills passed the House with 341 votes in favor and 88 against. This package provides funding for the Department of Defense, the Department of Transportation, the Department of Housing and Urban Development, the Department of Health and Human Services, the Department of Labor, the Department of Education, and other related agencies. The most controversial measure—the Department of Homeland Security appropriations bill—passed separately in the House with 220 votes in favor and 207 against. The House will combine these four bills with a mini-appropriations package containing two bills passed last week and send the complete package to the Senate. The Senate is expected to consider these bills after next weeks recess and before the January 30 deadline. This will mark the first time since former President Biden signed the omnibus appropriations bill in March 2024 that a new full-year funding level has been approved for the entire federal government.Intel (INTC.O) CFO Zinsner: Prioritize internal wafer supply for the data center division, while using more external wafers in the personal computer division.Intel (INTC.O) shares fell as much as 10% in after-hours trading after the company’s first-quarter revenue outlook fell short of expectations.Intel (INTC.O) CEO Chen Liwu: Intel is actively engaging with potential customers regarding 14A technology, and expects customers to make more decisive decisions about 14A technology in the second half of this year.

Gold Price Forecast: XAU/USD views $1,800 as upbeat US labor market fuels hawkish Fed wagers

Alina Haynes

Mar 09, 2023 13:55

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Gold price (XAU / USD) appears vulnerable above $1,810.00 as the upside appears constrained by rising Federal Reserve rate expectations (Fed). The precious metal is anticipated to resume its decline as strong United States Employment data reported by Automatic Data Processing (ADP) has confirmed that January's strong consumer spending and higher payrolls were not a one-time blow to the Consumer Price Index's decline (CPI).

 

S&P500 futures have given up the slight gains they made on Wednesday during the Asian session. As China's CPI and Producer Price Index (PPI) figures indicate deflation, the risk-aversion theme has intensified. The US Dollar Index (DXY) has maintained a sideways trend above 105.20 as investors await the publication of US Nonfarm Payrolls (NFP) data for fresh direction signals. The alpha provided by 10-year US Treasury bonds has risen above 3.98 percent.

 

The official US Employment data is expected to indicate a decline in the payrolls to 203K from the former release of 514k. A figure of 203K is not as terrible as January's 514K figure, but it appears insignificant in comparison. Investors should be aware that a figure of 514K in the last seven months was exceptional.

 

Aside from that, it is anticipated that the unemployment rate will remain at a multi-decade low of 3.4%. The Average Hourly Earnings are expected to ascend to 4.8% on an annual basis. Household income may increase consumer expenditure. Jerome Powell, the chairman of the Federal Reserve, has already confirmed that the Fed will increase interest rates in order to reduce inflation.


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