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FMC plunges 33% on lower quarterly revenue projection

Uber declines after directing Q1 bookings below price quotes

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Indexes: Dow up 0.15%, S&P 500 down 0.08%, Nasdaq down 0.34%

(Updates with afternoon rates)

By Shashwat Chauhan and Sukriti Gupta

Feb 5 (Reuters) -

The S&P 500 and the Nasdaq slipped on Wednesday, with Alphabet the greatest drag after the tech giant's ugly cloud profits and hefty investments into artificial intelligence dissatisfied financiers, while a variety of earnings contributed to the volatility.

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

"The market has some proof to recommend that there are other companies that potentially doing it less expensive, better, quicker, quicker," said Dave Grecsek, managing director in preparation method 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 an inexpensive Chinese expert system design developed by start-up

DeepSeek

. Nvidia, one of the companies 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 revenue - would fall about 7% from the previous quarter.

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

Private payrolls increased by 183,000 tasks last month, compared with an estimated 150,000 increase, disgaeawiki.info per financial experts polled by Reuters. The all-important January nonfarm payrolls report is anticipated 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 classifieds.ocala-news.com 0.15%, to 44,621.87, the S&P 500 lost 4.37 points, or 0.08%, qoocle.com 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 higher, higgledy-piggledy.xyz though interaction services' over 3% fall obscured gains.

Uber Technologies dropped 7.2% after the ride-hailing business forecast current-quarter bookings below price quotes.

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

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

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

Among leading movers, FMC Corp plunged 33.6% after the agrichemicals producer forecast first-quarter earnings below price quotes.

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

Advancing issues outnumbered 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, it-viking.ch while the Nasdaq Composite taped 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)