Markets today: Stocks slide on concern AI still a ‘show me’ story

  • 📰 BNNBloomberg
  • ⏱ Reading Time:
  • 82 sec. here
  • 46 min. at publisher
  • 📊 Quality Score:
  • News: 186%
  • Publisher: 50%

Asia ข่าว

Pacific Rim,Top Asia,Pacific Rim

Stocks got hammered after a disappointing start of the megacap earnings season fuelled speculation the artificial-intelligence frenzy that has powered the bull market still needs to pay off.

BNN Bloomberg's Jon Erlichman looks at how North American markets are shaping up for the trading day.

While high-flying megacaps have been responsible for the bulk of this year’s equity market gains, traders are looking for more evidence of the return on investment for the billions and billions of dollars spent in AI. Treasury yields fell, with the move led by shorter maturities on speculation the U.S. Federal Reserve will cut rates soon. Former New York Fed President William Dudley’s called for lower U.S. borrowing costs — preferably at next week’s gathering. For many analysts though, such a move would be worrisome as it would indicate officials would be rushing to avoid a recession.

“The market is not impressed with the start of earnings season for the mega tech stocks,” said Kathleen Brooks, research director at XTB. “There was a lot resting on these results and we don’t think that they give clear answers to questions about the effectiveness and profit potential for AI right now.”

Known as the “the 200-DMA” — an abbreviation of 200-day moving average — the gauge measures how the S&P 500 Index is performing against that longer-term measure. At one point last week, the benchmark was trading as much as 15 per cent above it, according to data compiled by Bloomberg. Although that does not necessarily mean the market is about to tank, it is a warning sign for investors concerned about lofty tech valuations and concentration risk, Thrasher said.• Texas Instruments Inc.

• Pfizer Inc.’s gene therapy for a severe bleeding disorder met its goal in a pivotal late-stage trial, paving the way for the company to enter what’s proven to be a challenging market for drug companies.

 

ขอบคุณสำหรับความคิดเห็นของคุณ ความคิดเห็นของคุณจะถูกเผยแพร่หลังจากได้รับการตรวจสอบแล้ว
เราได้สรุปข่าวนี้มาให้อ่านอย่างรวดเร็ว หากสนใจข่าว สามารถอ่านฉบับเต็มได้ที่นี่ อ่านเพิ่มเติม:

 /  🏆 83. in TH

ประเทศไทย ข่าวล่าสุด, ประเทศไทย หัวข้อข่าว

Similar News:คุณยังสามารถอ่านข่าวที่คล้ายกันนี้ซึ่งเรารวบรวมจากแหล่งข่าวอื่น ๆ ได้

Markets today: tech lifts U.S. stocks as FedEx up in late hoursA rally in the world’s largest technology companies lifted stocks, with Nvidia Corp. climbing 7 per cent after a US$430 billion selloff.
แหล่ง: BNNBloomberg - 🏆 83. / 50 อ่านเพิ่มเติม »

Markets today: Tech megacaps lift stocks after Nvidia’s selloffA rally in the world’s largest technology companies lifted stocks, with traders also wading through economic data and remarks from Federal Reserve speakers for clues on the outlook for rates.
แหล่ง: BNNBloomberg - 🏆 83. / 50 อ่านเพิ่มเติม »

Markets today: tech hits U.S. stocks as Nvidia extends selloff to 13%Stocks lost traction as an about US$400 billion plunge in Nvidia Corp. raised speculation that the rally in the industry that has powered the bull market was due for a breather.
แหล่ง: BNNBloomberg - 🏆 83. / 50 อ่านเพิ่มเติม »

Markets today: Stocks slump as Tesla and LVMH earnings disappointStocks slumped on lackluster results from Tesla Inc., LVMH and Deutsche Bank AG, fueling concern about the health of global business as the reporting season kicks into overdrive. Nasdaq 100 index futures sank more than one per cent.
แหล่ง: BNNBloomberg - 🏆 83. / 50 อ่านเพิ่มเติม »

Markets today: Stocks tick higher as focus swings to tech resultsStocks edged higher as investor attention moved from U.S. politics to a wave of company earnings, with tech heavyweights Tesla Inc. and Alphabet Inc. due to report later Tuesday.
แหล่ง: BNNBloomberg - 🏆 83. / 50 อ่านเพิ่มเติม »

Markets today: Stocks struggle as tech outages hit businessesGlobal equities struggled on Friday as worldwide computer systems outages hit travel, trading and banking services, threatening to exacerbate a pullback in technology stocks.
แหล่ง: BNNBloomberg - 🏆 83. / 50 อ่านเพิ่มเติม »