US Futures Mixed; Intel’s Woes to Weigh on Tech Sector By Investing.com – Investing.com

US Futures Mixed; Intel’s Woes to Weigh on Tech Sector By Investing.com – Investing.com

© Reuters.

By Peter Nurse   

Investing.com - U.S. stocks are seen opening mixed Friday, with the tech sector likely to underperform on the back of some disappointing earnings reports.

At 7:05 AM ET (1105 GMT), the contract was up 55 points, or 0.2%, traded 4 points, or 0.1%, higher, while dropped 30 points, or 0.2%.

The major averages on Wall Street have been on the rise of late, with the broad-based closing 0.3% higher on Thursday at a new record peak, its seventh consecutive positive session. 

Helping the tone has been a broadly positive start to the third-quarter earnings season. FactSet reported Thursday that over 80% of the 101 S&P 500 companies which have reported so far beat expectations.

However, that mood partly changed late Thursday after Intel (NASDAQ:) reported disappointing third-quarter sales after the close, causing its stock to fall nearly 10% in premarket trading. The semiconductor company cited supply shortages which were holding back sales of the company's flagship processor chips.

Facebook (NASDAQ:) and Alphabet (NASDAQ:) shares were also under pressure early Friday in a read across from Snap's (NYSE:) badly-received third-quarter numbers, with the social media giant blaming Apple’s privacy changes for