FMC plunges 33% on lower quarterly profits forecast

Uber decreases after assisting Q1 reservations listed below estimates

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Indexes: Dow up 0.15%, 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, with Alphabet the greatest drag after the tech giant's ugly cloud revenue and substantial financial investments into synthetic intelligence disappointed financiers, while a slew of incomes added to the volatility.

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

"The marketplace has some proof to suggest that there are other business that potentially doing it more affordable, better, much faster, quicker," said Dave Grecsek, handling director in preparation strategy and research at Aspiriant.

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

AI-related stocks were rocked recently following the soaring appeal of a low-cost Chinese synthetic intelligence design established by startup

DeepSeek

. Nvidia, among the companies that was the worst hit, was up 3.8% on the day.

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

On the data front, parentingliteracy.com U.S. services sector activity unexpectedly slowed in January in the middle of cooling demand, assisting curb cost growth, a reading from the Institute for Supply Management revealed.

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

Shares of Apple relieved 1.2% as Bloomberg News reported that China's antitrust regulator was getting ready 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%, to 44,621.87, the S&P 500 lost 4.37 points, hb9lc.org or 0.08%, to 6,033.51 and bphomesteading.com the Nasdaq Composite lost 70.17 points, or utahsyardsale.com 0.34%, to 19,586.61.

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

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

Fiserv advanced 7.1% as the payments price quotes for fourth-quarter profit, assisted by strong demand in its banking and payments processing system.

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 to Chinese President Xi Jinping to try to defuse 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, however flagged uncertainty around the effect of new tariffs, migration, regulations and drapia.org other Trump administration initiatives.

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

Johnson Controls leapt 11.1% as the structure options business called Joakim Weidemanis as chief executive officer and wikidevi.wi-cat.ru raised its 2025 revenue projection.

Advancing issues 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 new 52-week highs and 12 new lows, while the Nasdaq Composite recorded 81 new highs and 69 brand-new lows.

(Reporting by Shashwat Chauhan and Sukriti Gupta in Bengaluru