Stocks looked set to stabilize in early trading as lower oil prices eased inflation concerns. But the market remains jittery over enormous AI spending as earnings season rolls on.
Stocks are on track for modest weekly losses, particularly in the technology space, as rising oil prices and higher Treasury yields keep investors sidelined, despite strong earnings reports.
Alphabet and Tesla delivered earnings late Wednesday, and reaction could affect trading today. Alphabet enjoyed firm cloud growth, but Tesla fell short as margin disappointed.
Mega-caps Alphabet and Tesla report this afternoon. Chips rallied into Alphabet's results, possibly on hopes for big spending plans. But climbing yields and oil present headwinds.
After a Monday that saw the S&P 500 Index descend on rising oil and yields despite chip market strength, investors await General Motors, 3M, and Northrop Grumman.
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