5 stories on s&p 500 from MarketRadar.
Alphabet, Microsoft and Amazon report this week while the Fed decides on October 28. With hyperscaler capex near $800 billion and S&P 500 profits up over 32%, the AI rally faces its toughest test of the year.
The Dow Jones lost 652 points on Friday as the tech-led selloff spread into defensive stocks, while the S&P 500 slipped 0.52% and the Nasdaq held steadier as chip stocks bounced.
The Nasdaq fell 2.1% on Friday to close its worst week since June, while the S&P 500 dropped 1.1% and the Dow slipped 0.3%, as Fed Chair Kevin Warsh stayed tight-lipped on interest rates in Bangkok and AI-credit fears hammered chip stocks.
The Bloomberg US Economic Surprise Index dropped to -0.034 after weeks of missed forecasts, down from 0.446 in May — and Wall Street fears inflation is finally exhausting the consumer.
Wall Street closed Friday with all three major indices higher — the Dow up 423 points to 51,660, the S&P 500 up 0.59% to 7,811 and the Nasdaq up 0.64% to 27,366, sealing the Nasdaq's fourth straight weekly gain.
