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1 US STOCKS S & P 500, Nasdaq Fall As Earnings Season Gathers Speed

FMC plunges 33% on lower quarterly earnings projection

Uber decreases after guiding Q1 reservations listed below estimates

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Indexes: Dow up 0.15%, tandme.co.uk S&P 500 down 0.08%, Nasdaq down 0.34%

(Updates with afternoon rates)

By Shashwat Chauhan and Sukriti Gupta

Feb 5 (Reuters) -

The S&P 500 and the Nasdaq slipped on Wednesday, clashofcryptos.trade with Alphabet the biggest drag after the tech giant's ugly cloud earnings and large investments into synthetic intelligence disappointed investors, while a multitude of profits contributed to the volatility.

Google-parent Alphabet dropped 8.2% after posting downbeat cloud income growth and earmarking a higher-than-expected $75 billion for its AI buildout this year.

"The market has some proof to suggest that there are other companies that potentially doing it cheaper, much better, much faster, quicker," said Dave Grecsek, handling director in planning technique and research study at Aspiriant.

"So what is the knowledge of continuing to maintain high capex?"

AI -related stocks were rocked last week following the skyrocketing popularity of an affordable Chinese expert system design developed by startup

DeepSeek

. Nvidia, one of the business that was the worst hit, was up 3.8% on the day.

Advanced Micro Devices, on the other hand, lost 8.9% after CEO Lisa Su said the business's current-quarter information center sales - a proxy for its AI earnings - would fall about 7% from the previous quarter.

On the data front, U.S. services sector activity all of a sudden slowed in January in the middle of cooling demand, assisting curb rate development, a reading from the Institute for Supply Management showed.

Private payrolls increased by 183,000 jobs last month, compared to an estimated 150,000 boost, per economists surveyed by Reuters. The necessary January nonfarm payrolls report is expected to be released on Friday.

Shares of 1.2% as Bloomberg News reported that China's antitrust regulator was preparing for a possible investigation of the iPhone maker.

At 11:33 a.m. ET, the Dow Jones Industrial Average rose 65.83 points, or 0.15%, trade-britanica.trade to 44,621.87, the S&P 500 lost 4.37 points, or 0.08%, to 6,033.51 and the Nasdaq Composite lost 70.17 points, or tandme.co.uk 0.34%, to 19,586.61.

Eight of the 11 S&P 500 sectors traded higher, though interaction services' over 3% fall obscured gains.

Uber Technologies dropped 7.2% after the ride-hailing business forecast current-quarter bookings listed below price quotes.

Fiserv advanced 7.1% as the payments firm beat estimates for fourth-quarter profit, helped by strong demand in its banking and payments processing unit.

Markets likewise tried to find advancements on the tariffs front after U.S. President Donald Trump said on Tuesday he remained in no hurry to speak with Chinese President Xi Jinping to attempt to pacify a brand-new trade war between the countries.

Richmond Fed president Thomas Barkin said the Fed was still leaning towards more rate cuts this year, but flagged uncertainty around the effect of new tariffs, setiathome.berkeley.edu immigration, policies and other Trump administration initiatives.

Among top movers, FMC Corp plunged 33.6% after the agrichemicals manufacturer projection first-quarter profits listed below price quotes.

Johnson Controls jumped 11.1% as the structure options business called Joakim Weidemanis as ceo and raised its 2025 profit projection.

Advancing concerns surpassed decliners by a 2.03-to-1 ratio on the NYSE and by a 1.6-to-1 ratio on the Nasdaq.

The S&P 500 published 27 brand-new 52-week highs and 12 new lows, while the Nasdaq Composite tape-recorded 81 new highs and 69 brand-new lows.

(Reporting by Shashwat Chauhan and Sukriti Gupta in Bengaluru