Stocks Fall Pre-Bell as Traders Parse Economic Data, Intel's Quarterly Results

07:15 AM EST, 01/23/2026 (MT Newswires) -- The main US stock measures were pointing lower before the opening bell Friday as traders digest the latest economic data and chipmaker Intel's (INTC) quarterly results and outlook.

The S&P 500 and the Nasdaq edged down 0.1% each in premarket activity while the Dow Jones Industrial Average was off 0.2%. The indexes finished the previous trading session in the green.

Updated data showed Thursday that the US economy grew at a 4.4% annualized rate in the third quarter, up from a previously estimated 4.3% pace. The latest GDP growth figure is the fastest in two years, according to the report.

US consumer spending grew in October and November, while the Federal Reserve's preferred inflation metric for November accelerated in line with market expectations, the Bureau of Economic Analysis said Thursday.

Weekly applications for unemployment insurance in the US largely held steady after slipping below the 200,000 level earlier this month, while continuing claims fell to the lowest since November, official data showed.

Intel's (INTC) shares tanked 14% pre-bell after the company issued a first-quarter outlook that disappointed investors, as it flagged supply disruptions. The company also reported a year-over-year decrease in fourth-quarter revenue, with RBC Capital Markets expecting it to deliver a "slight" quarterly beat amid robust server demand.

Meta Platforms (META) edged down 0.5% following a 5.7% gain at the close of Thursday. Intuitive Surgical (ISRG) and CSX (CSX) advanced 3.6% and 2.9%, respectively, after posting their latest financial results.

SLB (SLB), formerly Schlumberger, First Citizens BancShares (FCNCA), Booz Allen Hamilton (BAH) and Webster Financial (WBS) are scheduled to release their quarterly earnings before the bell.

Treasury yields were down in premarket action, with the two-year rate retreating 0.5 basis points to 3.61% and the 10-year rate falling 1.4 basis points to 4.24%.

Friday's economic calendar has S&P Global's (SPGI) flash purchasing managers' index for January at 9:45 am ET, followed by the final University of Michigan consumer sentiment report for the current month at 10 am.

Earlier in January, preliminary results from the University of Michigan survey showed that consumer sentiment improved this month to its highest point since September, but remained subdued compared to year-ago levels amid inflation and labor market concerns.

West Texas Intermediate crude oil increased 1.5% to $60.22 a barrel before the open. Gold ticked up 0.1% to $4,918 per troy ounce, while bitcoin traded down 0.4% at $89,137.

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