NEW YORK, Jan. 26 (Xinhua) — U.S. stocks ended mixed on Friday, as the S&P 500’s run of consecutive record highs came to an end after five sessions, impacted by Intel’s stock decline following its dismal revenue outlook.

The Dow Jones Industrial Average rose 60.30 points, or 0.16 percent, to 38,109.43. The S&P 500 sank 3.19 points, or 0.07 percent, to 4,890.97. The Nasdaq Composite Index shed 55.13 points, or 0.36 percent, to 15,455.36.

Seven of the 11 primary S&P 500 sectors ended in green, with energy and health leading the gainers by adding 0.76 percent and 0.59 percent, respectively. Meanwhile, technology and real estate led the laggards by dropping 1.05 percent and 0.37 percent, respectively.

According to a report from the U.S. Commerce Department, the personal consumption expenditures index rose modestly in December 2023, keeping annual inflation below 3 percent for the third month in a row. This trend supported the argument for potential interest rate cuts within the year.

“Inflation is headed in the right direction and with the excellent GDP figure, it’s almost turning into a Goldilocks environment,” said Todd Morgan, chairman of Bel Air Investment Advisors. “I think soft landing is now a consensus.”

However, Intel’s stock plummeted to its lowest point in six weeks following a revenue projection that significantly fell short of expectations. This came as the company struggled to keep pace in the artificial intelligence sector and contended with a sluggish personal computer market. Apple’s stock also dropped in anticipation of its upcoming quarterly report next Thursday. Both Apple and Intel were among the primary contributors to the downward pressure on the S&P 500.

The Philadelphia SE Semiconductor index experienced a downturn for the second consecutive day on Friday, following its record high close on Wednesday. Advanced Micro Devices, Nvidia and Micron Technology all edged lower.

American Express reached an all-time high following its announcement of a yearly profit forecast that exceeded expectations. Conversely, Visa experienced a decline after the leading global payments processor projected modest revenue growth for the current quarter.

Some Chinese biotech stocks plunged after U.S. politicians proposed a law that could restrict their access to the U.S. market.