High-flying AI-linked tech stocks turned lower after Oracle's results reignited fears about the sustainability of elevated investment in AI infrastructure while returns lag.
Investors on Wall Street debated the future rate path ahead of the Fed's rate decisions on Wednesday. Switzerland-based UBS plans to cut an additional 10,000 positions by 2027.
The weaker-than-expected jobs report raised expectations that the Federal Reserve may consider trimming interest rates following the policy meeting next week.
Marvell Technology agreed to acquire Celestial AI for upfront cash and milestone-based future payments. Okta reported better-than-expected quarterly results, but the cybersecurity company's current quarter outlook fell short of market expectations.
Wall Street indexes lacked direction after halting a five-session rally on Monday. Gold eased 1% after investors booked profit after prices reached a six-week high at the start of the week.
Wall Street indexes rested on Monday, gold advanced to a six-week high, and crude oil increased 2% after OPEC+ reaffirmed its decision to suspend production increases during the first quarter of 2026.
Wall Street and global indexes are likely to face elevated levels of volatility in the absence of meaningful catalysts over the next two weeks. The S&P 500 index and the Nasdaq Composite are likely to deepen November losses above 4%.
Wall Street indexes attempted to rebound from a sharp sell-off in the previous session amid rate path uncertainty, elevated inflation, and volatile labor market conditions.
