Google’s parent company and other tech stocks are weighing on a mixed Wall Street as the focus swings back toward how much profit businesses are making.
Wall Street drifted higher Wednesday as gains for most stocks outweighed drops for Alphabet and some other big-name companies following their latest profit reports.
Advanced Micro Devices fell 6.3 per cent even though the chip company edged past profit expectations for the latest quarter. While analysts called AMD’s results solid, they also asked why CEO Lisa Su did not give more detail about expectations for the performance of its AI offerings specifically. In the meantime, Trump has pressed ahead with tariffs on Chinese goods, and Mericle expects tariffs to hit autos from the European Union, among other potential moves. That could drive a one-time boost to inflation, which could leave a widely followed measure of underlying inflation trends at 2.6 per cent in December, above the Federal Reserve’s target of 2 per cent.
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