Wall Street falls as chip stocks decline; mixed earnings reports from Microsoft, Meta, Alphabet

From Investing.com: 2024-10-30 19:02:21

U.S. stock indexes closed lower as chip stocks fell and investors awaited corporate earnings. Microsoft and Meta Platforms beat revenue estimates. Alphabet’s positive results helped offset chip stock losses. Super Micro Computer plunged after Ernst & Young resigned as accountant. Economic data showed a 2.8% GDP increase and strong private payrolls growth.

In response to a neck-and-neck presidential race, U.S. stock indexes closed lower as chip stocks tumbled and investors awaited corporate earnings. Microsoft and Meta Platforms beat revenue estimates. Alphabet’s positive results helped offset chip stock losses. Super Micro Computer plunged after Ernst & Young resigned as accountant. Eli Lilly and Starbucks reported mixed earnings, with Starbucks showing a drop in sales.



Read more at Investing.com: Wall street ends lower ahead of megacap earnings By Reuters