Posted 1/30/2024, 10:19:54 PM
Tech Stocks Fall As Alphabet, Microsoft Earnings Disappoint; Fed Rate Decision Looms As Jobs Data Rebounds
- Alphabet and Microsoft reported earnings that disappointed some investors, sending tech stocks lower in late trading
- The stakes are high for big tech earnings this week after a surge in valuations and AI hype
- Aside from earnings, traders digested economic data showing job openings rebounded in December
- The Fed's rate decision looms, with the market paring back bets on a March rate cut
- Separate data showed consumer confidence rose to the highest since 2021, raising questions about potential inflation impacts