Earnings Derail Stock Rally Over Doubts on AI, Consumer Strength

-- The latest earnings reports are fanning two worries that were already gnawing away at the US stock market: That the euphoria about artificial intelligence had run too far and that — at some point — consumers spending will start to stall.JD Vance’s ‘Cat Ladies’ Insult Sparks Criticism of Trump’s VP PickFed’s Favored Price Gauge Rises at Mild Pace, Spending Holds Up

The sentiment is a shift from what held sway during much of this year, when optimism about soft landing in the economy and investor obsession with all things artificial intelligence pushed the S&P 500 into 38 records. But the scale of the market’s run up this year has left some investors wary, particularly when it comes to the big technology companies. With Alphabet, Microsoft, Meta and Amazon.com Inc. all investing heavily in the promise of artificial intelligence technology, investors are increasingly questioning how much it will pay off.

Whirlpool lowered its full-year earnings forecast, as consumers continued to shy away from big-ticket appliance purchases amid a weakening housing market. Shares of a frozen potato supplier Lamb Weston Holdings Inc. sank by the most on record on Wednesday as earnings and guidance missed analysts’ expectations.

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