The stock market experienced a downward trend today, with major indexes all in the red. The Dow dropped 251 points, the S&P 500 fell 80 points, the Nasdaq took a hit of 486 points, and the Russell 2000 was down 43 points. This decline follows a five-day slide in trading sessions.

In Q3 earnings news, Advanced Micro Devices (AMD) beat earnings expectations, with earnings of $1.20 per share and revenue of $9.25 billion. Amgen (AMGN) also outperformed, reporting earnings of $5.64 per share and revenues of $9.56 billion. Rivian (RIVN) exceeded expectations with a loss of -$0.65 per share and revenues of $1.56 billion.

However, Super Micro Computer (SMCI) had mixed results with earnings of 35 cents per share and revenues of $5.0 billion. Pinterest (PINS) missed earnings estimates with 38 cents per share and met revenue expectations. Shares of Pinterest dropped 18% after the report, bringing the year-to-date performance into negative territory.

Investors are looking ahead to the next wave of AI stocks. Zacks’ AI Boom 2.0 report highlights four under-the-radar companies that could be the next big players in the AI market. With the potential for significant wealth creation, investors are urged to explore these opportunities for future growth and success.

Read more at Nasdaq: Markets Stay Lower on Valuation Questions: AI, etc.