Nasdaq's Biggest Drop Since June Puts Big Tech Earnings in Focus

The Nasdaq's steepest single-day decline since June has raised the stakes for next week's earnings from Alphabet, Microsoft and Amazon, as investors assess whether heavy AI spending can produce returns. About one-third of S&P 500 companies will report third-quarter results next week. The Fed meeting and technology earnings on the S&P 500 calendar arrive as this week's pullback sharpens scrutiny of companies' spending plans. Annual capital spending by cloud hyperscalers is forecast at roughly $800 billion, while higher financing costs have intensified questions about the pace. The Nasdaq's Thursday drop was its largest one-day decline since June.

Source: TokenPost