{
  "id": 17136450,
  "title": "Wall Street ends lower as Alphabet revenue miss revives AI capex jitters",
  "url": "https://urgent.news/2026/10/29/wall-street-ends-lower-as-alphabet-revenue-miss-revives-ai-capex-17136450",
  "topic": "ai",
  "section": "AI",
  "published": "2026-10-29T21:57:57.000Z",
  "source": {
    "name": "The Business Times - Companies & Markets",
    "slug": "the-business-times-companies-markets",
    "url": "https://www.businesstimes.com.sg/companies-markets/capital-markets-currencies/wall-street-ends-lower-alphabet-revenue-miss-revives-ai-capex-jitters"
  },
  "original_language": "en",
  "account": "On Thursday (Oct 29), US stocks declined as investors reassessed big tech's AI spending spree after Alphabet's disappointing quarterly results. The tech-heavy Nasdaq suffered the most significant loss, while the smallcap Russell 2000 advanced. Semiconductor stocks followed a four-day winning streak with a 1.4% drop as investors sought to differentiate between companies that can fund their AI ambitions and those that struggle financially. Alphabet's shares dropped 12.6%, reflecting its revenue miss and increased AI-related cash burn. The tech-laden Nasdaq lost 1.37%, the Dow Jones Industrial Average fell 0.25%, and the S&P 500 declined 0.3%. Fed policymakers held off on interest rate changes, acknowledging elevated price pressures but promising to review their next move. Economic data released on Thursday showed a faster-than-expected GDP growth in the third quarter, but inflation continued to heat up due to a war-related oil supply crunch. Third-quarter earnings have reached the halfway point, with 81% of S&P 500 companies beating analyst expectations. Caterpillar topped profit estimates but held steady on growth targets, while Eli Lilly's revenue outlook raised expectations for its drug sales. Ford's stock rose 12.4% after surpassing third-quarter revenue, and Merck's shares climbed 3.8% after beating earnings expectations, driven by its cancer drug Keytruda and HPV vaccine Gardasil. Software stocks underperformed, with Fortinet and ServiceNow both dropping over 20% after reporting weak quarterly results.",
  "summary": "All three major US equity indices lose ground, with the tech-laden Nasdaq losing the most",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 5,
    "also_reported_by": [
      {
        "outlet": "Channel News Asia",
        "title": "AI giants' funding ambitions test Wall Street's appetite for risk",
        "url": "https://urgent.news/2026/10/28/ai-giants-funding-ambitions-test-wall-streets-appetite-for-risk",
        "published": "2026-10-28T14:16:16.000Z"
      },
      {
        "outlet": "Techmeme",
        "title": "How surging demand from AI hyperscalers has quintupled flash memory prices and shifted market and negotiating power from Apple to suppliers like Kioxia (Rolfe Winkler/Wall Street Journal)",
        "url": "https://urgent.news/2026/10/29/how-surging-demand-from-ai-hyperscalers-has-quintupled-flash-memory",
        "published": "2026-10-29T03:55:00.000Z"
      },
      {
        "outlet": "Straits Times Business",
        "title": "Wall Street ends lower as Alphabet revenue miss revives AI capex jitters",
        "url": "https://urgent.news/2026/10/29/wall-street-ends-lower-as-alphabet-revenue-miss-revives-ai-capex",
        "published": "2026-10-29T21:09:26.000Z"
      },
      {
        "outlet": "Yonhap News",
        "title": "(URGENT) Seoul stocks open lower on Wall Street losses, AI concerns",
        "url": "https://urgent.news/2026/10/30/urgent-seoul-stocks-open-lower-on-wall-street-losses-ai-concerns",
        "published": "2026-10-30T00:01:57.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}