US stock futures steady after Greenland relief rally, Intel slides on weak outlook

U.S. stock index futures steadied on Thursday evening, cooling after strength in technology shares and some relief over President Donald Trump’s demands for Greenland spurred a two-day bounce on Wall Street.

Intel was a major underperformer in aftermarket trade as a softer-than-expected outlook for the current quarter largely overshadowed positive December quarter earnings.
Wall Street indexes remained close to record highs, having recouped a bulk of their losses this week after Trump softened his rhetoric on Greenland. A rally in tech stocks, on continued optimism over artificial intelligence, also lent support.

S&P 500 Futures fell 0.1% to 6,940.25 points by 19:06 ET (00:06 GMT). Nasdaq 100 Futures fell nearly 0.2% to 25,610.0 points, while Dow Jones Futures fell nearly 0.1% to 49,524.0 points.

Intel slumps over 13% on disappointing outlook
Intel Corporation (NASDAQ:INTC) slid as much as 13.4% in extended trade after the chipmaker issued underwhelming first-quarter guidance, which largely overshadowed stronger-than-expected December quarter earnings.

The chipmaker projected breakeven earnings per share for the current quarter, missing analyst estimates, while its revenue guidance was also below consensus.

Intel said that while it was making progress in developing advanced chips, its available supply was set to be at its “lowest level” in the first quarter, before improving later through the year.

The chipmaker is in the process of a major restructuring involving cutting costs, shoring up its cash levels, and developing more advanced processes to catch up with its rivals in riding the AI boom.

Wall St rebounds on Greenland relief, tech strength
Wall Street indexes rose on Thursday, extending a rebound from the prior session after Trump said his administration reached a framework trade deal over Greenland, and that he will not tariff European powers over the Danish territory.

Trump also withdrew his threat to use force to take Greenland, a sharp reversal from his rhetoric last week. The move offered much relief to markets, after Trump’s earlier tariff threats ramped up global geopolitical tensions and sparked deep losses in Wall Street.

Tech shares continued to advance, led by Meta Platforms Inc (NASDAQ:META) after Jefferies reiterated the stock as its top pick ahead of the company’s December quarter earnings due next week. Meta surged 5.7% on Thursday.

Tech majors Apple Inc (NASDAQ:AAPL), Microsoft Corporation (NASDAQ:MSFT) and Tesla Inc (NASDAQ:TSLA) are also set to report earnings next week.

Amazon.com Inc (NASDAQ:AMZN), which will also report next week, rose slightly after Reuters reported the company was planning a second round of corporate job cuts next week.

Gains in tech boosted Wall Street, with the S&P 500 rising nearly 0.6% to 6,913.35 points. The NASDAQ Composite rose 0.9% to 23,436.02 points, while the Dow Jones Industrial Average rose 0.6% to 49,394.01 points.

Focus next week will also be on a Federal Reserve meeting, with the central bank widely expected to leave interest rates unchanged, amid growing uncertainty over the U.S. economy.