Futures tracking the S&P 500 and the Nasdaq inched up on Friday, fueled by Intel’s earnings and as investors braced for a high-stakes inflation report that could potentially jolt the U.S. interest rate path.

Intel shares jumped 8.4 per cent in premarket trade after the chip giant smashed third-quarter profit estimates, injecting fresh momentum into a wave of upbeat U.S. earnings.

Peers rose too, with AMD up 1.5 per cent and Micron Technology gaining 2.5 per cent.

Intel’s beat sets the tone for a blockbuster week ahead, with five of the ‘Magnificent Seven’ tech titans - including Apple and Microsoft - on deck to report amid the ongoing AI gold rush. That’s even as lackluster results from Tesla and Netflix in the week gone by left investors wanting more, tempering some of the optimism.

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