Tech Wobbles: Stocks Take a Breath Amid Mixed Signals

Stocks are taking a pause today. The tech world is feeling a bit shaky after Qualcomm's shares dropped. This is making investors nervous about how high tech stock prices have climbed. Meanwhile, the economy is sending mixed messages, which isn't helping anyone make up their minds. Qualcomm isn't having the best day. Their shares fell by 2. 8%. Why? They warned that they might lose some business next year from Samsung, their big customer. But hey, it's not all bad. They also said their sales and profits for this quarter might be better than people thought. Remember the big stock sell-off on Tuesday? That was after some Wall Street bigwigs said the market might be due for a correction. AI stocks, which have been on a roll this year, took a hit. But Wednesday was better. Some good earnings reports and decent economic news helped calm things down. Now, let's talk about jobs. The U. S. government shutdown was the longest ever. This shutdown has left investors and the Federal Reserve in the dark. They're having to rely on private reports to get a sense of what's happening. One report said private jobs rebounded last month, but another said employers cut over 150, 000 jobs in October. That's the biggest reduction in over 20 years. What's next for interest rates? Traders think there's a 67% chance of a rate cut in December. That's down from 72% a week ago. Later today, some Federal Reserve officials are speaking. Everyone will be listening closely to see what hints they drop about future rate moves. Earnings season is in full swing. So far, 83% of the S&P 500 companies that have reported beat earnings estimates. That's higher than the usual 67%. But not everyone is doing well. DoorDash's shares fell 10. 1% after their profits came in below expectations. Elf Beauty also had a rough day, with shares dropping 25. 4% after they forecast lower sales and profits. On the upside, Snap rose 20. 8% after beating revenue estimates and teaming up with Perplexity AI. And Marvell Technology gained 11. 9% after rumors of a potential takeover by SoftBank.