(Bloomberg) — Stocks rose as gains in most major industries overshadowed underwhelming earnings from some tech heavyweights. Treasury yields reached 2025 lows after a weak reading on US services.
About 350 companies in the S&P 500 climbed. Nvidia Corp. led gains in chipmakers. But a gauge of the “Magnificent Seven” megacaps sank 1.5% as Alphabet Inc.’s results drove Google’s parent to its worst plunge in over a year. Advanced Micro Devices Inc. tumbled 6.3% on a disappointing outlook. In late hours, Qualcomm Inc. rose on a bullish sales forecast. Arm Holdings Plc gave a tepid estimate. Ford Motor Co. warned that profit may fall.
Wall Street has been whipsawed by uneven economic data, trade tensions and questions on whether the billions of dollars spent on artificial intelligence will…
