AIET Techabout 2 hours ago
US stocks today: Nasdaq lags on angst over AI spending ahead of earnings reports
ByteBrief summary
3 min readThe 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 ended close to flat but its biggest weight came from the S&P 500 technology index, which underperformed the broader market as chip stocks fell.While investors wait for results from megacaps Microsoft, Amazon.com, Meta and Apple Inc, their enthusiasm was weakened by Alphabet's announcement, late.
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