Colgate-Palmolive's stock rose 2.8% after Morgan Stanley upgraded it from "equal weight" to "overweight" and named it the top pick in the household and personal care industry.

Memory chip prices have been falling steeply over the past year, and they are expected to continue falling in the first half of 2023.

A large financial institution based in Switzerland recently invested heavily in chip stocks, as well as media and entertainment shares.

Investors will be closely watching earnings next week from Apple, Amazon, and Microsoft for clues about whether Wall Street's projections are too optimistic in light of the cooling US economy.

It's never a good time to spend a lot of money fixing problems that have been around for years. That's especially true for Intel Corp.