US stocks hold relatively steady even as several AI companies swing lower
AI-related stocks dragged the Nasdaq lower as investors weighed debt worries, a possible Federal Reserve rate hike and a 2% jump in U.S. crude.
- Stock indexes slipped 0.1% early Tuesday to give back some of Monday's gains, while the Nasdaq composite fell 0.5% due to pressure on artificial-intelligence stocks and the Dow Jones Industrial Average edged up 0.2%.
- Artificial-Intelligence stocks came under pressure as investors grew wary of debt in the sector; South Korea's Elice Group tumbled 30% on its market debut, while CoreWeave fell 4.5% before the market opened.
- Benchmark America crude jumped 2% to $100.55 a barrel, while Brent crude gained 1.6% to $111.25 as uncertainty regarding the war with Iran suggests oil prices are unlikely to ease soon.
- Major companies are rolling out quarterly results, including Netflix and The Elon Musk-led SpaceX; Netflix announced plans to lay off about 6% of its workforce, amounting to nearly 1,000 positions.
- Rising fuel costs and declining public services are fueling an autumn of protests across Europe, with demonstrations reported in Britain, France, Italy, and Albania; stock indexes including the German DAX fell 0.8%.
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17 Articles
WCCB Charlotte
US stocks hold relatively steady even as several AI companies swing lower
More swings for stocks in the artificial-intelligence industry are weighing on Wall Street, but the overall U.S. market is holding relatively steady following profit reports from several companies that topped expectations.
Nvidia was losing 1.61% on Tuesday, Micron was dropping 1.74% and AMD 1.77%. The New York Stock Exchange opened to decline on Tuesday, with investors juggling...
Reformatorisch Dagblad
New York stock markets opened mostly lower on Tuesday. Investors took a cautious approach due to persistent concerns about high investment and high share valuations in the AI sector. On Monday, investors had taken advantage of last week's heavy sell-off in AI-related stocks to go bargain hunting. However, a weak stock market debut by South Korean data center company Elice reignited concerns about high financing costs and long-term profitability …
The New York Stock Exchange opened to decline on Tuesday, with investors juggling between a new wave of sales of artificial intelligence (AI)-related securities and a fly of quarterly results.
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