FMC plunges 33% on lower quarterly income projection

Uber declines after directing Q1 bookings listed below quotes

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Indexes: Dow up 0.15%, prawattasao.awardspace.info S&P 500 down 0.08%, Nasdaq down 0.34%

(Updates with afternoon prices)

By Shashwat Chauhan and Sukriti Gupta

Feb 5 (Reuters) -

The S&P 500 and disgaeawiki.info the Nasdaq slipped on Wednesday, with Alphabet the biggest drag after the tech giant's dour cloud revenue and significant financial investments into expert system dissatisfied investors, while a variety of profits contributed to the volatility.

Google-parent Alphabet dropped 8.2% after posting downbeat cloud profits growth and earmarking a higher-than-expected $75 billion for its AI buildout this year.

"The marketplace has some proof to suggest that there are other companies that perhaps doing it more affordable, much better, much faster, quicker," said Dave Grecsek, handling director in preparation technique and research at Aspiriant.

"So what is the wisdom of continuing to maintain high capex?"

AI-related stocks were rocked last week following the soaring appeal of a low-cost Chinese expert system design established by start-up

DeepSeek

. Nvidia, among the business that was the worst hit, was up 3.8% on the day.

Advanced Micro Devices, meanwhile, lost 8.9% after CEO Lisa Su said the business's current-quarter information center sales - a proxy for its AI income - would fall about 7% from the previous quarter.

On the data front, U.S. services sector activity unexpectedly slowed in January amidst cooling need, assisting curb rate development, a reading from the Institute for Supply Management showed.

Private payrolls rose by 183,000 jobs last month, compared with an approximated 150,000 boost, per financial experts surveyed by Reuters. The necessary January nonfarm payrolls report is expected to be released on Friday.

Shares of Apple reduced 1.2% as Bloomberg News reported that China's antitrust regulator was preparing for a possible investigation of the iPhone maker.

At 11:33 a.m. ET, the Dow Jones Industrial Average rose 65.83 points, or 0.15%, to 44,621.87, the S&P 500 lost 4.37 points, larsaluarna.se or 0.08%, to 6,033.51 and videochatforum.ro the Nasdaq Composite lost 70.17 points, or 0.34%, to 19,586.61.

Eight of the 11 S&P 500 sectors traded greater, canadasimple.com though communication services' over 3% fall obscured gains.

Uber Technologies dropped 7.2% after the ride-hailing company forecast current-quarter reservations listed below price quotes.

Fiserv advanced 7.1% as the payments quotes for fourth-quarter earnings, helped by strong demand in its banking and payments processing system.

Markets likewise tried to find advancements on the tariffs front after U.S. President Donald Trump said on Tuesday he remained in no hurry to speak with Chinese President Xi Jinping to try to pacify a new trade war between the nations.

Richmond Fed president Thomas Barkin said the Fed was still leaning towards more rate cuts this year, however flagged uncertainty around the effect of brand-new tariffs, migration, regulations and other Trump administration efforts.

Among top movers, FMC Corp plunged 33.6% after the agrichemicals manufacturer forecast first-quarter earnings listed below quotes.

Johnson Controls jumped 11.1% as the structure services company called Joakim Weidemanis as ceo and raised its 2025 profit forecast.

Advancing concerns surpassed decliners by a 2.03-to-1 ratio on the NYSE and by a 1.6-to-1 ratio on the Nasdaq.

The S&P 500 published 27 new 52-week highs and 12 new lows, while the Nasdaq Composite tape-recorded 81 new highs and 69 new lows.

(Reporting by Shashwat Chauhan and Sukriti Gupta in Bengaluru; Editing by Pooja Desai, Devika Syamnath and Maju Samuel)