Stocks Under Pressure as AI Fears Overshadow Fed
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LiveUpdated6m agoStocks Under Pressure as AI Fears Overshadow FedJoin the Markets Today team for news and analysis vital to UK markets. Email us at marketstoday@bloomberg.net6m ago The Fed’s rate cut initially gave equities a boost, and US stocks did close higher, but that more positive mood was dashed by the results from Oracle . The software and cloud computing company’s shares slumped in after-hours trading as it tapped directly into the fears that have hit the AI trade: a jump in spending on AI data centres which are taking longer than investors want to translate into returns. Those more existential concerns were accompanied by results that failed to meet high expectations, with a 34% rise in cloud sales and 68% bump in infrastructure unit revenue falling short of analyst estimates. That’s filtering through into a rough picture in US stock futures, though it appears that the pain is mostly being confined to there, even if European and UK futures do look somewhat soggy. Photographer: David Paul Morris/Bloomberg Sam UnstedUK Markets Today, LondonCopied