Wall Street’s main indexes opened lower on Friday after Intel’s bleak outlook dragged chipmakers lower, though data showing easing inflation spurred hopes of a policy shift from the Federal Reserve, helping limit losses.

The S&P 500 (.SPX) opened lower by 6.71 points, or 0.17%, at 4,053.72, while the Nasdaq Composite (.IXIC) dropped 41.94 points, or 0.36%, to 11,470.47 at the opening bell.

The Dow Jones Industrial Average (.DJI) rose 3.52 points, or 0.01%, at the open to 33,952.93.