Nasdaq lags on angst over AI spending ahead of earnings reports

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The tech-heavy Nasdaq fell on Friday as investors sold chip stocks on ?worries about massive spending on artificial intelligence ahead of the next batch of megacap earnings reports, while falling oil prices provided Wall Street with some ?support even as Middle East hostilities continued. The S&P 500 barely advanced and its biggest weight came from the S&P 500 technology index, which underperformed the broader market to finish down 0.88%, as chip stocks fell. While investors looked ahead to next week’s results from megacaps Microsoft, Amazon.com, Meta and Apple Inc, their enthusiasm has waned since Alphabet’s (GOOGL.O), opens new tab announcement,…

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