Technology stocks suffered sharp declines, led by Alphabet dropping more than 11% after disappointing results, while Amazon and Intel earnings are due Thursday evening. Microsoft, by contrast, delivered a solid quarter with Azure growing 48%, and Treasury yields fell after inflation data matched expectations but remained above the Federal Reserve’s 2% target. Markets are also tracking reported acquisition talks between Marvell and Lumentum, Fortinet’s 27% premarket plunge and Samsung’s weaker buyback and outlook. Eli Lilly raised its full-year sales forecast on strong Mounjaro and Zepbound demand, Linde reported 15% growth in its electronics market, Chipotle beat comparable-sales estimates, and FedEx faced high fuel costs and a softer holiday forecast.
Source: Read the original article
