From Barchart:

Major tech companies like Alphabet, AMD, and Apple disappointed investors with underwhelming earnings, while Meta Platforms and Amazon outperformed expectations, bolstering investor optimism. The Federal Reserve left interest rates unchanged, indicating a rate reduction in March is unlikely. The U.S. economy experienced exceptional job growth in January, surpassing predictions. However, AI giants like Microsoft and Alphabet saw declines due to various factors, including falling ad revenues and unmet forecasts. Meta Platforms, formerly Facebook, surged after announcing its first-ever dividend and ambitious AI goals. Amazon delivered a robust Q4 with record-breaking revenues and earnings, indicating a promising Q1 outlook. On the other hand, Apple faced significant challenges in China with a 12.9% revenue drop, reflecting stiff competition and geopolitical tensions. Tesla initiated its first-ever Cybertruck recall alongside a larger vehicle callback, addressing a software flaw through an over-the-air update. Fed Chairman Powell indicated an unlikely interest rate cut in March, stating the need to achieve sustained inflation before easing policy. The strong jobs report in January saw a surge in non-farm payrolls and average hourly earnings, outperforming predictions by almost doubling expectations.



Read more: Mixed Fortunes For Tech Giants, Powell Signals No March Interest Rate Cut, Spectacular January Jobs Report: This Week In The Markets