Stock indexes, including the S&P 500, Dow Jones, and Nasdaq 100, are down today. Concerns over AI spending are impacting tech stocks, with Broadcom and Oracle leading the decline. Energy stocks are falling with crude prices, while cryptocurrency-exposed stocks are sliding. Dovish Fed comments and mixed US economic data also influence market sentiment.

Lower interest rates and easier Fed policy support stocks amid expectations of Fed-friendly economic news. Dovish comments from Fed officials contribute to market optimism. However, mixed US economic data, including a contraction in the Empire manufacturing survey, pose challenges. Weaker-than-expected Chinese economic data also impacts global growth prospects.

This week’s focus is on key US economic news, including nonfarm payrolls, retail sales, and manufacturing PMI data. Market expectations for Fed policy changes are at 24%. Overseas markets are mixed, with the Euro Stoxx 50 up and China’s Shanghai Composite down. Interest rates and bond yields are also in focus, with European government bond yields moving lower.

Stock movers include KLA Corp and chip makers, as well as cryptocurrency-exposed stocks tumbling. Energy producers like APA Corp and Occidental Petroleum are sliding with crude oil prices. ServiceNow, LyondellBasell Industries, and other companies are facing downgrades, while positive news boosts Immunome and ZIM Integrated Shipping Services.

Earnings reports for companies like Dakota Gold Corp and Lionsgate Studios Corp are on the horizon. Akam Technologies and Corebridge Financial are up, while Charles River Laboratories also sees positive movement. The market remains dynamic, influenced by economic data, Fed policy, and global factors.

Read more at Nasdaq: Stocks Turn Lower on AI Spending Concerns