FMC plunges 33% on lower quarterly earnings forecast

Uber decreases after directing Q1 reservations 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 most significant drag after the tech giant's dour cloud revenue and significant investments into synthetic intelligence dissatisfied financiers, pipewiki.org while a slew of revenues added to the volatility.

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

"The marketplace has some proof to recommend that there are other companies that perhaps doing it cheaper, better, quicker, quicker," said Dave Grecsek, managing director in planning method 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 skyrocketing appeal of an inexpensive Chinese artificial intelligence design developed by startup

DeepSeek

. Nvidia, utahsyardsale.com among the companies that was the worst hit, dokuwiki.stream was up 3.8% on the day.

Advanced Micro Devices, on the other hand, lost 8.9% after CEO Lisa Su said the company's current-quarter data center sales - a proxy for its AI income - would fall about 7% from the previous quarter.

On the data front, U.S. services sector activity unexpectedly slowed in January amidst cooling need, assisting curb cost development, a reading from the Institute for Supply Management showed.

Private payrolls increased by 183,000 jobs last month, compared to an approximated 150,000 increase, per economists surveyed by Reuters. The necessary January nonfarm payrolls report is anticipated to be launched on Friday.

Shares of Apple relieved 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, the S&P 500 lost 4.37 points, or 0.08%, to 6,033.51 and the Nasdaq Composite lost 70.17 points, suvenir51.ru or 0.34%, 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 anticipated current-quarter reservations below price quotes.

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

Markets likewise searched for advancements 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 nations.

Richmond Fed president Thomas Barkin said the Fed was still leaning towards more rate cuts this year, it-viking.ch but flagged uncertainty around the impact of brand-new tariffs, immigration, policies and other Trump administration efforts.

Among top movers, FMC Corp plunged 33.6% after the agrichemicals producer forecast first-quarter earnings listed below estimates.

Johnson Controls jumped 11.1% as the structure services company named Joakim Weidemanis as ceo and raised its 2025 profit projection.

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 posted 27 brand-new 52-week highs and 12 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)