August retail sales outperform estimates, survey: 79% of investors are pricing in a soft landing scenario
Update: 2024-09-17
Description
Intel (INTC) is expanding its collaborative chipmaking partnership with Amazon Web Services (AMZN) as the hardware company seeks to further expand its foundry business. Moor Insights & Strategy Founder, CEO, and Chief Analyst Patrick Moorhead talks about how Intel's various partnerships are reducing its risks in the long term.
Takeaways:
- August retail sales outdid Wall Street estimates, rising by 0.1% month-over-month against expectations to drop by 0.2%.
- According to a Bank of America fund managers survey, 79% of investors are pricing in a soft landing scenario as the Federal Reserve readies to cut interest rates at its September meeting this week.
- Intel (INTC) shares move higher on the news the semiconductor company plans to spin off its foundry business into an independent subsidiary.
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