Wall Street inches up as investors assess corporate earnings

US stock indices rose during Friday trading, moving near record highs as corporate earnings continued to flow in.

Intel shares fell by more than 9% as investors evaluated CEO Pat Gelsinger’s remarks regarding the company’s plans to scale back its third-party chip manufacturing operations.

Data from FactSet showed that 82% of companies listed on the S&P 500 index that have reported their earnings so far have exceeded Wall Street expectations, including Alphabet, which posted quarterly profits that beat estimates.

In trading, the Dow Jones Industrial Average rose by 0.1% (equivalent to 50 points) to 44,744 points as of 16:43 GMT, while the broader S&P 500 index increased by 0.2% (equivalent to 14 points) to 6,377 points, and the Nasdaq Composite Index rose by 0.2% (equivalent to 48 points) to 21,105 points.