Weak Intel forecast drags S&P 500, ends streak of record highs

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By Noel Randewich and Ankika Biswas (Reuters) -The S&P 500 ended a five-session streak of record highs on Friday, with Intel slumping after a bleak revenue forecast, while U.S. economic data showed inflation moderating. Even as the S&P 500 and Nasdaq ended the session lower, all three major indexes recorded their third straight weekly gain and their 12th weekly advance out of 13. A U.S. Commerce Department report showed the personal consumption expenditure index – the Federal Reserve’s preferred inflation gauge – rose moderately in December. This kept the annual increase in inflation below 3% …

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