Market Check
By Noel Randewich
July 29 (Reuters) - Wall Street ended sharply lower on Wednesday after the Federal Reserve held interest rates steady, with AI-related chip stocks adding to recent declines ahead of quarterly reports from Microsoft and Meta Platforms and the Nasdaq 100 index marking an 11% drop from its June record high.
The Fed's widely expected decision to leave the benchmark interest rate in the 3.50%-3.75% range drew dissents from... (continue reading...)
By Noel Randewich
July 28 (Reuters) - The S&P 500 ended higher on Tuesday as gains in Boeing and Coca-Cola helped offset tumbling chip stocks ahead of quarterly reports from Apple and other tech companies this week.
Global markets have been volatile this month as investors worry that Alphabet, Microsoft, Amazon and other technology heavyweights may be overspending on AI data centers as they race to dominate the emerging technology.
... (continue reading...)By Sinéad Carew and Noel Randewich
July 27 (Reuters) - Wall Street ended mixed on Monday, as investors awaited guidance from major technology companies in a busy week for quarterly earnings, while also worrying that stubbornly high oil prices could force the Federal Reserve to raise interest rates.
Microsoft, Amazon, Meta and Apple are set to report quarterly results this week. Investors were questioning whether a multi-year rally fueled... (continue reading...)
By Sinéad Carew and Ragini Mathur
July 24 (Reuters) - The tech-heavy Nasdaq fell on Friday as investors sold chip stocks on worries about massive spending on artificial intelligence ahead of the next batch of megacap earnings reports, while falling oil prices provided Wall Street with some support even as Middle East hostilities continued.
The S&P 500 barely advanced and its biggest weight came from the S&P 500 technology index, which... (continue reading...)
By Sinéad Carew and Ragini Mathur
July 23 (Reuters) - Wall Street indexes closed lower on Thursday with Nasdaq sinking more than 2% as the latest earnings updates from large technology companies revived concerns about heavy AI spending, while soaring oil prices amped up inflation worries, lifting bond yields.
The S&P 500 fell more than 1% as losses were broad-based after investors were unimpressed by second-quarter results from Alphabet... (continue reading...)
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