Microsoft jumped after reporting stronger profit and revenue for the summer than expected, but Alphabet fell on worries about a cloud-computing slowdown.
Wall Street is slipping Wednesday following a mixed set of profit reports from two of its most influential Big Tech companies. The Standard & Poor's 500 was 0.7% lower in early trading, coming off its first gain in the last six days. The Dow Jones industrial average was up 51 points, or 0.2%, as of 9:40 a.m. Eastern, and the Nasdaq composite was 1.2% lower. Microsoft jumped 4.1% after reporting stronger profit and revenue for the summer than analysts expected.
Such strength has kept the economy out of a recession but could also be adding upward pressure on inflation. Investors banking on rate cuts may depending on a playbook that’s become obsolete, said Bryant VanCronkhite, senior portfolio manager at Allspring Global Investments. He said that may be pushing them to not take seriously enough the possibility of a global recession, which would be the result of rates left too high for too long.
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Microsoft and Alphabet results show Wall Street only cares about AIWall Street seems to have the sense that AI is helping Microsoft’s cloud business more than it is helping Google’s
Weiterlesen »
Microsoft shares rise as Wall Street heralds ‘strong execution,' wider AI rolloutAnalysts praised Microsoft’s results and expressed optimism about the company’s product pipeline, including Microsoft 365 Copilot.
Weiterlesen »
Analyst calls: All the market-moving chatter from Wall Street on Wednesday morningCheck out the market-moving analyst calls and latest chatter on Wall Street today.
Weiterlesen »
Enviva soars 20% to highlight Mobile and Alabama Stock ReportWall Street rises to a rare gain Tuesday.
Weiterlesen »
Here are Wednesday's biggest analyst calls: Nvidia, Apple, Microsoft, Gap, Verizon, Alphabet & moreHere are Wednesday's biggest calls on Wall Street.
Weiterlesen »
One major Wall Street investment firm says some sugary drink brands will survive this health trendTrendy dieters are shedding pounds, but some sugary drink providers should avoid the weight loss fallout.
Weiterlesen »