Intel "Stumbles", Inflation Eases, AmEx Rallies and Chevron Posts Record Profit 1/27/23

Carl Quintanilla and Jim Cramer focused on shares of Intel tumbling after the chipmaker posted fourth-quarter results that missed expectations -- and warned of a loss in Q1. The anchors reacted to CEO Pat Gelsinger's earnings call comment: "We realize that we stumbled." The Fed's preferred inflation measure -- Core PCE -- eased in December year-over-year, while consumer spending fell and personal income rose last month. With the consumer in mind, Carl and Jim discussed shares of American Express rallying on its quarterly results. Also in focus: Chevron posts a record annual profit one day after announcing a $75 billion share buyback, Salesforce appoints new board members amid activist pressure, Hasbro job cuts, plus – a “puzzling” development.