* US prices rise moderately in Dec, inflation trending lower

* T-Mobile falls as Q4 profit disappoints

* AmEx hits record high after annual profit forecast

* S&P 500 flat, Nasdaq -0.22%, Dow +0.16%

Jan 26 (Reuters) -

Wall Street was mixed on Friday, with Intel slumping after a bleak revenue forecast, while U.S. economic data showed inflation moderating.

The S&P 500 was unchanged and the Nasdaq dipped. All three major indexes were set for their third straight week of gains and their 12th weekly advance out of 13.

A U.S. Commerce Department report showed the personal consumption expenditure index - the Federal Reserve's preferred inflation gauge - rose moderately in December. This kept the annual increase in inflation below 3% for a third-straight month and bolstered the case for rate cuts this year.

On Thursday, data showed a strong fourth-quarter U.S. economic growth reading.

"These are good numbers," said Peter Cardillo, Chief Market Economist at Spartan Capital Securities in New York. "Taken with yesterday’s GDP numbers, this report strengthens the possibility of a soft landing, which continues to gain traction."

Intel slumped 12% to a six-week low after it gave a revenue forecast that badly missed estimates as it plays catch-up in the AI race while also dealing with a weak PC market.

Chip manufacturing tools maker KLA Corp shed 5.8% following its disappointing third-quarter revenue forecast.

The Philadelphia SE Semiconductor index shed 2.9%, down for a second day after closing at a record high on Wednesday.

Tesla dipped 0.2%, a day after the electric car maker slid 12% following a

warning of slower growth in 2024


American Express jumped 6.6%, hitting a record high, after the credit card firm forecast a higher-than-expected annual profit. Visa declined 1.6% after the world's largest payments processor's tepid current-quarter revenue growth forecast.

The S&P 500 was essentially flat at 4,894.22 points.

The Nasdaq declined 0.22% to 15,476.44 points, while the Dow Jones Industrial Average was up 0.16% at 38,109.56 points.

Of the S&P 500 companies that have reported earnings so far, 78.2% have surpassed expectations, LSEG data showed, compared with a long-term average beat rate of 67%.

On Thursday, the S&P 500 closed at an all-time high for a fifth straight session, extending a rally driven by optimism about the economy and lower interest rates, as well as bets on artificial intelligence.

The S&P 500 and Nasdaq are up about 3% so far in 2024.

Colgate-Palmolive rose 2.1% after the toothpaste maker posted upbeat fourth-quarter results.

Advancing issues outnumbered falling ones within the S&P 500 by a 1.1-to-one ratio.

The S&P 500 posted 34 new highs and 1 new lows; the Nasdaq recorded 84 new highs and 66 new lows.

(Reporting by Ankika Biswas and Johann M Cherian in Bengaluru, additional reporting by Amruta Khandekar; Editing by Maju Samuel and David Gregorio)