MarketBeat Week in Review – 10/19
Investors weighed heavy AI spending, a telecom selloff and higher oil prices as they awaited earnings from major companies and a Federal Reserve meeting.
- Wall Street's main indexes closed lower on Friday, ending a turbulent week as technology shares steadied but broader market sentiment weakened amid mounting concerns.
- Concerns over financing costs for heavy AI investment spending weighed on markets, though the S&P 500 technology sector posted a 0.35% gain while most other sectors, including financials and consumer staples, dropped more than 1%.
- Telecommunications stocks fell after reports that Elon Musk-led SpaceX seeks thousands of cell sites for a new carrier. Shares of AT&T and T-Mobile sank nearly 8%, while tower operators Crown Castle and American Tower gained 9% and 4%.
- Next week, one-third of S&P 500 companies including Alphabet, Microsoft, and Amazon report earnings, while the Federal Reserve is expected to keep interest rates steady on Wednesday.
- Kristina Hooper, chief market strategist at Man Group, warned of "fallout from the questioning of the AI trade," noting potential for reduced AI data center investment next year compared to projections.
25 Articles
25 Articles
Wall Street Closes Lower, Dow Drops 600 Points - Regional Media News
(New York, NY) - Wall Street is closing lower to end another volatile week. The Dow Jones Industrial Average slid more than one-percent as U.S. oil prices topped 100-dollars a barrel. American Express fell more than three percent after announcing it will cut about five [...]
Wall Street closes lower to end rocky week for AI trading
Wall Street's main indexes closed lower on Friday even as technology shares steadied somewhat to end a turbulent week for the market-driving AI trade, and investors looked ahead to a busy slate of corporate earnings and a Federal Reserve interest-rate…
Madrid/New York, Oct 23 (EFE).- The European stock exchanges closed the week down, burdened by oil prices, with the Brent above $116 per barrel and Texas at 103, while Wall Street ended with a mixed weekly balance, with Dow Jones advances and falls for the [...] The Wall Street entry closes in red after a volatile oil-centered week and the AI was first published in HolaNews.
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