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FMC plunges 33% on lower quarterly revenue forecast

Uber decreases after directing Q1 bookings 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 costs)

By Shashwat Chauhan and Sukriti Gupta

Feb 5 (Reuters) -

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

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

"The marketplace has some evidence to recommend that there are other business that perhaps doing it more affordable, much better, much faster, quicker," said Dave Grecsek, managing director in preparation strategy and research at Aspiriant.

"So what is the knowledge of continuing to maintain high capex?"

AI-related stocks were rocked recently following the skyrocketing appeal of an inexpensive Chinese expert system design developed by startup

DeepSeek

. Nvidia, among the business 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 data center sales - a proxy for its AI earnings - would fall about 7% from the previous quarter.

On the information front, U.S. services sector activity suddenly slowed in January amid cooling demand, gratisafhalen.be assisting curb rate development, a reading from the Institute for Supply Management showed.

Private payrolls rose by 183,000 jobs last month, compared with an estimated 150,000 increase, per economic experts polled by Reuters. The necessary January nonfarm payrolls report is anticipated to be released on Friday.

Shares of Apple eased 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 0.15%, to 44,621.87, the S&P 500 lost 4.37 points, or 0.08%, 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 greater, though communication services' over 3% fall obscured gains.

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

Fiserv advanced 7.1% as the payments company beat quotes for fourth-quarter earnings, helped by strong demand in its banking and payments processing system.

Markets likewise searched for developments on the tariffs front after U.S. President Donald Trump said on Tuesday he remained in no rush to speak with Chinese President Xi Jinping to try to pacify a new trade war in between the nations.

Richmond Fed president Thomas Barkin said the Fed was still leaning towards more rate cuts this year, however flagged uncertainty around the effect of new tariffs, migration, guidelines and other Trump administration initiatives.

Among leading movers, FMC Corp 33.6% after the agrichemicals manufacturer forecast first-quarter income below quotes.

Johnson Controls jumped 11.1% as the structure solutions business called Joakim Weidemanis as primary executive officer and raised its 2025 profit forecast.

Advancing concerns surpassed 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 posted 27 brand-new 52-week highs and 12 brand-new lows, while the Nasdaq Composite recorded 81 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)