US STOCKS-S & P 500, Nasdaq Fall As Earnings Season Gathers Speed;

FMC plunges 33% on lower quarterly earnings projection

Uber declines after assisting Q1 reservations below quotes

*

Indexes: Dow up 0.15%, 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 the Nasdaq slipped on Wednesday, with Alphabet the biggest drag after the tech giant’s ugly cloud income and hefty investments into artificial intelligence dissatisfied investors, while a variety of earnings contributed to the volatility.

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

“The market has some evidence to recommend that there are other companies that potentially doing it cheaper, better, faster, quicker,” said Dave Grecsek, handling director in preparation strategy and research study at Aspiriant.

“So what is the knowledge of continuing to maintain high capex?”

AI-related stocks were rocked last week following the soaring appeal of an inexpensive Chinese expert system design developed by start-up

DeepSeek

. Nvidia, one of the that was the worst hit, was up 3.8% on the day.

Advanced Micro Devices, on the other hand, lost 8.9% after CEO Lisa Su said the business’s current-quarter information center sales – a proxy for its AI profits – would fall about 7% from the previous quarter.

On the information front, U.S. services sector activity all of a sudden slowed in January amid cooling demand, assisting curb rate development, a reading from the Institute for Supply Management revealed.

Private payrolls rose by 183,000 jobs last month, compared with an estimated 150,000 increase, per economic experts polled by Reuters. The necessary January nonfarm payrolls report is expected to be released on Friday.

Shares of Apple relieved 1.2% as Bloomberg News reported that China’s antitrust regulator was preparing for a possible examination of the iPhone maker.

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

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

Uber Technologies dropped 7.2% after the ride-hailing business anticipated current-quarter bookings below estimates.

Fiserv advanced 7.1% as the payments firm beat quotes for fourth-quarter profit, assisted by strong need in its banking and payments processing unit.

Markets likewise looked for advancements on the tariffs front after U.S. President Donald Trump said on Tuesday he remained in no hurry to talk to Chinese President Xi Jinping to try to defuse a new trade war in 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 initiatives.

Among top movers, FMC Corp plunged 33.6% after the agrichemicals producer projection first-quarter profits below estimates.

Johnson Controls leapt 11.1% as the structure options company named Joakim Weidemanis as president and raised its 2025 revenue 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 brand-new 52-week highs and 12 new lows, while the Nasdaq Composite recorded 81 brand-new highs and 69 brand-new lows.

(Reporting by Shashwat Chauhan and Sukriti Gupta in Bengaluru; Editing by Pooja Desai, Devika Syamnath and photorum.eclat-mauve.fr Maju Samuel)