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Nasdaq lags on angst over AI spending ahead of earnings reports | Reuters

SUMMARY
Indexes mixed: Dow up 0.46%, S&P 500 up 0.05%, Nasdaq down 0.64%Oil falls 3% on the day after 5 days of gainsIntel tumbles despite upbeat quarterly revenue, profit forecastDigital Realty shares rally on upbeat outlook

July 24 (Reuters) - The tech-heavy Nasdaq fell on Friday as investors sold chip stocks on ​worries about massive spending on artificial intelligence ahead of the next batch of megacap earnings reports, while falling oil prices provided Wall Street with some ‌support even as Middle East hostilities continued.

The S&P 500 barely advanced and its biggest weight came from the S&P 500 technology index (.SPLRCT), opens new tab, which underperformed the broader market to finish down 0.88%, as chip stocks fell.

While investors looked ahead to next week's results from megacaps Microsoft (MSFT.O), opens new tab, Amazon.com (AMZN.O), opens new tab, Meta (META.O), opens new tab and Apple Inc (AAPL.O), opens new tab, their enthusiasm has waned since Alphabet's (GOOGL.O), opens new tab announcement, late on Wednesday, of a massive hike to its capital spending plans even as it burns ​cash.

After piling into technology stocks in recent years on the promise of growth from AI, investors have become worried about the need for ever-increasing capital outlays ​for AI, according to Peter Andersen, CEO of Andersen Capital Management.

https://www.reuters.com/business/wall-st-futures-rise-after-tech-rout-mideast-tariffs-focus-2026-07-24/

Nasdaq lags on angst over AI spending ahead of earnings reports
https://www.straitstimes.com/business/nasdaq-lags-on-angst-over-ai-spending-ahead-of-earnings-reports