The three major US stock averages fluctuated between small gains and losses on Wednesday, attempting to rebound from Tuesday's weak session, when concerns over lofty AI valuations weighed on sentiment while earnings remained in focus.
The tech sector stayed under pressure, while materials and energy outperformed. AMD slipped 1.7% after issuing a revenue forecast that failed to impress investors, and Super Micro Computer tumbled 7.3% following a weaker-than-expected earnings outlook for the current period.
Palantir Technologies extended losses, falling 2.3%. Nvidia edged down 0.2%, while Qualcomm gained 1.7% ahead of its earnings release after the closing bell. McDonald's rose 2.9% after reporting faster-than-expected US sales growth, even though earnings came in below forecasts.
Meanwhile, the ADP report showed the US private sector added 42,000 jobs last month, slightly above expectations, suggesting some stabilization after two months of job losses.
Source : Trading Economics
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