Investing.com-- The S&P 500 closed lower Wednesday after swinging between gains and losses through the session as investors digested a jump in Treasury yields and cooling rally in Alphabet.) cut some gains to close 3% higher even after the Google parent reported stronger-than-expected earnings for the September quarter, while stating that its artificial intelligence investments were now bearing fruit.
Strong earnings from Alphabet set a positive tone for upcoming earnings from its tech peers, which are due in the coming days.In the near-term, AMD may stay a"bit range bound because we worry that 2025 will be more of a 'transition' year for the AI story..." UBS said in a recent note.) also weighed on the chip sector falling more than 30% pressuring the broader chip sector after its auditor EY resigned citing concerns about the board's independence and accounting practices.
Volatility in stock markets is also expected to pick up in anticipation of the 2024 presidential election, with voting set for November 5. Donald Trump and Kamala Harris are set for a tight race, although recent polls and prediction markets showed Trump gaining some ground.) stock rose over 3% after the health insurer beat estimates for third-quarter profit, buoyed by strength in its government-backed Medicare Advantage insurance business for older adults.
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