Early Update – Semis Weak & Mega-Caps Flattish

11:30 a.m. ET The PCE inflation data really didn’t move the needle much for stocks and yields are modestly higher despite Core PCE at 3.9% for December, down from 3.2% in November. Weakness in semiconductor-related stocks has weighed down the broader market following disappointing guidance from Intel (INTC -10.4%) and KLA Corporation (KLAC -5.25%). The PHLX Semiconductor…