US STOCKS-S & P 500, Nasdaq Fall As Earnings Season Gathers Speed;
FMC plunges 33% on lower quarterly earnings forecast
Uber decreases after guiding Q1 reservations below price quotes
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Indexes: Dow up 0.15%, S&P 500 down 0.08%, Nasdaq down 0.34%
(Updates with afternoon prices)
By Shashwat Chauhan and Sukriti Gupta
Feb 5 (Reuters) -
The S&P 500 and the Nasdaq slipped on Wednesday, with Alphabet the greatest drag after the tech giant's ugly cloud profits and significant investments into expert system dissatisfied investors, while a slew of incomes added to the volatility.
Google-parent Alphabet dropped 8.2% after publishing downbeat cloud revenue development and allocating a higher-than-expected $75 billion for its AI buildout this year.
"The market has some proof to suggest that there are other business that potentially doing it more affordable, better, much faster, quicker," said Dave Grecsek, managing director in preparation strategy and research study at Aspiriant.
"So what is the knowledge of continuing to maintain high capex?"
AI-related stocks were rocked recently following the soaring popularity of an affordable Chinese expert system model established by start-up
DeepSeek
. Nvidia, among the business that was the worst hit, was up 3.8% on the day.
Advanced Micro Devices, meanwhile, lost 8.9% after CEO Lisa Su said the business's current-quarter data center sales - a proxy for its AI income - would fall about 7% from the previous quarter.
On the information front, U.S. services sector activity suddenly slowed in January in the middle of cooling need, helping curb price growth, a reading from the Institute for Supply Management showed.
Private payrolls increased by 183,000 tasks last month, compared to an estimated 150,000 increase, per economic experts polled by Reuters.
FMC plunges 33% on lower quarterly earnings forecast
Uber decreases after guiding Q1 reservations below price quotes
*
Indexes: Dow up 0.15%, S&P 500 down 0.08%, Nasdaq down 0.34%
(Updates with afternoon prices)
By Shashwat Chauhan and Sukriti Gupta
Feb 5 (Reuters) -
The S&P 500 and the Nasdaq slipped on Wednesday, with Alphabet the greatest drag after the tech giant's ugly cloud profits and significant investments into expert system dissatisfied investors, while a slew of incomes added to the volatility.
Google-parent Alphabet dropped 8.2% after publishing downbeat cloud revenue development and allocating a higher-than-expected $75 billion for its AI buildout this year.
"The market has some proof to suggest that there are other business that potentially doing it more affordable, better, much faster, quicker," said Dave Grecsek, managing director in preparation strategy and research study at Aspiriant.
"So what is the knowledge of continuing to maintain high capex?"
AI-related stocks were rocked recently following the soaring popularity of an affordable Chinese expert system model established by start-up
DeepSeek
. Nvidia, among the business that was the worst hit, was up 3.8% on the day.
Advanced Micro Devices, meanwhile, lost 8.9% after CEO Lisa Su said the business's current-quarter data center sales - a proxy for its AI income - would fall about 7% from the previous quarter.
On the information front, U.S. services sector activity suddenly slowed in January in the middle of cooling need, helping curb price growth, a reading from the Institute for Supply Management showed.
Private payrolls increased by 183,000 tasks last month, compared to an estimated 150,000 increase, per economic experts polled by Reuters.