Stock market today: Indexes slide as chipmaker rout drags tech ahead of key earnings

• Indexes slipped connected Wednesday led by a sell-off successful spot stocks.
• Alphabet roseate aft delivering a large net beat.
• Meta and Microsoft study net aft nan bell.

US banal ended little connected Wednesday arsenic encouraging tech net were eclipsed by a sell-off among semiconductor shares.

Alphabet's big net beat helped nonstop its banal up almost 3% successful nan session, but awesome indexes fell arsenic chipmakers suffered losses.

AMD and Super Micro Computer led nan rout. The erstwhile fell connected anemic fourth-quarter guidance, while Super Micro plummeted connected news that its auditor resigned owed to institution concerns. AMD dropped almost 11%, while SMCI plunged 33%.

However, investors person much large tech net to look guardant to.

Shares of Microsoft and Meta traded higher arsenic traders anticipated their financial results connected aft nan closing bell. Apple and Amazon are connected platform to study aft nan adjacent connected Thursday.

Macroeconomic information released connected Wednesday highlighted ongoing spot successful nan US economy, diluting interest that liking rates mightiness request to driblet quickly to propel growth.

Third-quarter US existent GDP came successful at an annualized complaint of 2.8%, driven by a beardown consumer. PCE, nan Federal Reserve's preferred ostentation gauge, reached 2.2% — adjacent to nan cardinal bank's target complaint of 2%.

"This is fantabulous connected nan GDP, peculiarly erstwhile you look astatine nan user spending," economist Claudia Sahm told Bloomberg TV. "It's not conscionable 1 quarter: we person now put together 4 quarters that are astir 3 percent maturation successful user spending, inflation-adjusted. "

The labour marketplace besides appears strong, arsenic ADP hiring roseate by its fastest complaint successful complete a year. The information perchance sets nan shape for different large nonfarm payrolls study connected Friday, which will thief pass nan Fed's adjacent move astatine its November 6-7 argumentation meeting.

Here's wherever US indexes stood astatine nan 4:00 p.m. closing doorbell connected Wednesday:

• S&P 500: 5,813.67, down 0.33%

  Dow Jones Industrial Average: 42,141.54, down 0.22% (-91.51 points)

• Nasdaq composite: 18,607.93, down 0.56%

Here's what other is going on:

• Top economist David Rosenberg says Canadian stocks look poised to outperform nan S&P 500.
• Nvidia is undervalued arsenic $9 trillion is still needed for superintelligent AI, SoftBank's CEO said.
• US business re-shoring could beryllium a $10 trillion economical opportunity, according to Morgan Stanley.

In commodities, bonds, and crypto:

• West Texas Intermediate crude lipid jumped 2.38% to $68.81 a barrel. Brent crude, nan world benchmark, climbed 2.31% astatine $72.76 a barrel.
• Gold inched up 0.59% to $2,797.6 an ounce.
• The 10-year Treasury output stayed fundamentally level astatine 4.282%.
• Bitcoin eased by 1.43% to $71,786.57