US stocks fall; Meta, Microsoft disappoint, PCE data released

Tech giants Meta and Microsoft both traded lower Thursday, even as their earnings for the September quarter beat expectations.

Meta warned of a sharp increase in AI-related spending in the coming year, while user growth was at a slower pace in the September quarter than the prior one. Both contracts rose more than 2% on Wednesday, after falling more than 6% earlier in the week on the reduced risk of a wider Middle East conflict.

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