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FMC plunges 33% on lower quarterly revenue projection

Uber declines after directing Q1 reservations listed below quotes

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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 greatest drag after the tech giant's ugly cloud income and large financial investments into synthetic intelligence dissatisfied investors, while a slew of incomes contributed to the volatility.

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

"The market has some proof to recommend that there are other business that possibly doing it cheaper, much better, faster, quicker," said Dave Grecsek, handling director in planning 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 a low-cost Chinese synthetic intelligence model established by start-up

DeepSeek

. Nvidia, among the 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 company's current-quarter information center sales - a proxy for garagesale.es its AI earnings - would fall about 7% from the previous quarter.

On the information front, U.S. services sector activity suddenly slowed in January in the middle of cooling need, helping curb rate development, a reading from the Institute for Supply Management revealed.

Private payrolls rose by 183,000 tasks last month, compared to an estimated 150,000 increase, per economists polled by Reuters. The critical January nonfarm payrolls report is anticipated to be launched on Friday.

Shares of Apple eased 1.2% as Bloomberg News reported that China's antitrust regulator was getting ready for a possible examination of the iPhone maker.

At 11:33 a.m. ET, the Dow Jones Industrial Average rose 65.83 points, or 0.15%, to 44,621.87, accc.rcec.sinica.edu.tw the S&P 500 lost 4.37 points, smfsimple.com or 0.08%, to 6,033.51 and the Nasdaq Composite lost 70.17 points, or 0.34%, forum.altaycoins.com to 19,586.61.

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

Uber Technologies dropped 7.2% after the ride-hailing company forecast current-quarter reservations listed below estimates.

Fiserv advanced 7.1% as the payments firm beat price quotes for fourth-quarter revenue, archmageriseswiki.com helped by strong demand in its banking and payments processing system.

Markets also searched for developments on the tariffs front after U.S. President Donald Trump said on Tuesday he remained in no hurry to speak to Chinese President Xi Jinping to try to defuse a new trade war between the countries.

Richmond Fed president Thomas Barkin said the Fed was still leaning towards more rate cuts this year, however flagged uncertainty around the impact of brand-new tariffs, wiki.myamens.com immigration, guidelines and other Trump administration efforts.

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

Johnson Controls leapt 11.1% as the building services company called Joakim Weidemanis as chief executive officer and raised its 2025 revenue projection.

Advancing problems outnumbered decliners by a 2.03-to-1 ratio on the NYSE and swwwwiki.coresv.net by a 1.6-to-1 ratio on the Nasdaq.

The S&P 500 published 27 new 52-week highs and 12 brand-new lows, while the Nasdaq Composite taped 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 Maju Samuel)