U.S. stocks fell modestly on Friday, a day after the S&P 500 rose to its highest level in five years, as a weak outlook from Intel was weighed against encouraging data out of China and a fourth-quarter profit at Morgan Stanley .

Shares of Intel (INTC.O) fell just over 6 percent to $21.30 after the tech company forecast quarterly revenue that was below analysts' estimates and hiked capital spending plans for the year.

The Dow Jones industrial average .DJI edged up 8.02 points, or 0.06 percent, at 13,604.04. The Standard & Poor's 500 Index .SPX slipped 1.20 points, or 0.08 percent, to 1,479.74. The Nasdaq Composite Index .IXIC lost 7.52 points, or 0.24 percent, to 3,128.48.