FMC plunges 33% on lower quarterly income forecast

Uber decreases after directing Q1 bookings below price quotes

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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 income and significant financial investments into expert system dissatisfied investors, while a slew of earnings added to the volatility.

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

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

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

AI-related stocks were rocked recently following the skyrocketing popularity of a low-priced Chinese expert system model established by start-up

DeepSeek

. Nvidia, one of the companies 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 company's current-quarter data center sales - a proxy for its AI revenue - would fall about 7% from the previous quarter.

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

Private payrolls rose by 183,000 jobs last month, compared with an approximated 150,000 increase, per economists polled by Reuters. The all-important January nonfarm payrolls report is anticipated to be launched on Friday.

Shares of Apple alleviated 1.2% as Bloomberg News reported that China's antitrust regulator was preparing for a possible examination 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, or 0.08%, to 6,033.51 and the Nasdaq Composite lost 70.17 points, or 0.34%, yogaasanas.science 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 company anticipated current-quarter reservations below estimates.

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

Markets likewise searched for developments on the tariffs front after U.S. President Donald Trump said on Tuesday he remained in no rush to talk to Chinese President Xi Jinping to attempt 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 brand-new tariffs, yewiki.org migration, regulations and other Trump administration initiatives.

Among leading movers, FMC Corp plunged 33.6% after the agrichemicals manufacturer projection first-quarter income listed below estimates.

Johnson Controls leapt 11.1% as the structure solutions company called Joakim Weidemanis as chief executive officer and raised its 2025 revenue forecast.

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 posted 27 brand-new 52-week highs and 12 new lows, while the Nasdaq Composite recorded 81 brand-new highs and 69 new lows.

(Reporting by Shashwat Chauhan and Sukriti Gupta in Bengaluru; Editing by Pooja Desai, Devika Syamnath and Maju Samuel)