US STOCKS-Intel lifts Wall St, but indexes set for lower week

viernes 13 de junio de 2014 12:38 GYT

* Dow, S&P set for lower week after three weeks of gains

* Intel up on outlook, OpenTable soars on Priceline deal

* Oil remains in focus as Iraq violence continues

* Indexes: Dow, S&P 500 up 0.2 pct, Nasdaq up 0.3 pct (Updates to midday trading)

By Ryan Vlastelica

NEW YORK, June 13 (Reuters) - U.S. stocks rose on Friday, boosted by bullish news from the tech sector, though major indexes remained on track to snap a multi-week string of weekly gains.

Despite the day's rise, investors remained cautious about ongoing violence in Iraq, which has taken oil prices to their highest since September. Analysts are worried about the impact a protracted period of high commodity prices could have on economic growth, especially with indexes near record levels.

Intel Corp was one of the S&P 500's biggest gainers and the Nasdaq's most active name, jumping 7.2 percent to $29.98 a day after the Dow component raised its full-year revenue outlook, citing stronger-than-expected demand for personal computers used by businesses.

"The market isn't cheap, but it isn't crazy expensive and the sectors that are looking better are cyclical in nature," said Michael Mullaney, chief investment officer at Fiduciary Trust Co in Boston. "Tech has been doing well from a price return standpoint, and that should continue."   Continuación...