US stock markets sag in late day trading as Google continues to struggle
Markets continue to digest earnings reports and AI developments. The big news yesterday on the $500 billion in AI capex fundraising has added to questions about who will pay for it but it led to some nice gains for asset managers.
The laggard was Google as it fell another 3.5%. It continues to struggle after a shakeup last week among the top people in AI and technology. The chatter about a broken culture is gaining mometum and it has the market worried that Gemini will never catch up, even with the company touting 1 billion users today.
The intraday action saw modest gains at the open but creeping selling as the day went on. Oil tried to sell off on Pakistani headlines about a potential deal but finished 1.6% higher on some late bids. That's back-to-back losses in the S&P 500 but I don't think anyone is ready to hit the panic button.
Closing changes on the main indexes:
- S&P 500 -0.3%
- Nasdaq -0.6%
- Russell 2000 +0.4%
- DJIA -0.4%
- Toronto TSX Comp +0.1%
In terms of the $500 billion fundraising, here is how those names did:
Apollo and KKR were also among the top-5 stocks on the S&P 500 on the day:
At the bottom, internet advertising company AppLovin struggled:
This article was written by Adam Button at investinglive.com.提供 MainLink：Investinglive RSS Breaking News Feed
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