US Edition
World Shares Retreat After Alphabet and AI Stocks Nudge Wall Street to More Records
NEW YORK, UNITED STATES, JUL 24 – Alphabet rose 3.1% boosted by a $10 billion AI investment increase while Tesla fell 9.2% despite meeting profit expectations, influencing Wall Street near record highs.
- On Friday, Wall Street markets opened near record levels, with the S&P 500 up 0.1% and the Dow down 265 points.
- Last week, U.S. unemployment claims fell, signaling labor market resilience, while the 10-year U.S. Treasury note rose to 4.43% late Wednesday, with Treasury yields rising amid signs of economic strength.
- Alphabet climbed 3.1% after delivering a fatter profit for the latest quarter than analysts expected, and it increased its budget for AI chips and other investments this year by $10 billion to $85 billion.
- An 8.9% drop for Southwest Airlines followed its earnings miss, while American Airlines fell 9.3% despite a stronger profit and a forecast of a summer quarter loss.
- Expectations are high that the Federal Reserve will hold rates steady next week, while indexes in Asia and Europe rose as earnings results circulated.
114 Articles
114 Articles
Associated Press News
Asian shares retreat after Alphabet and AI stocks nudge Wall Street to more records
Asian shares are lower after Wall Street inched to more records as gains for Alphabet and artificial-intelligence stocks offset a steep tumble for EV-maker Tesla.
US stocks close mixed on corporate earnings
US stocks ended mixed on Thursday as investors digested a wave of corporate earnings and weighed the implications of accelerating global trade negotiations.The Dow Jones Industrial Average fell 0.7 percent to 44,693.91. The S&P 500 gained 0.07 percent to 6,363.35, while the Nasdaq Composite Index rose 0.18 percent to 21,057.96.Eight of the 11 primary S&P 500 sectors ended in the red. Consumer discretionary and materials led the laggards, losing …
S&P 500 and Nasdaq notch record closes, lifted by Alphabet
THE S&P 500 and the Nasdaq notched record high closes on Thursday as robust results from Google parent Alphabet fueled optimism about other heavyweight artificial intelligence stocks, while Tesla slumped after the electric vehicle maker's results disappointed investors.
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