00:00Wall Street ended sharply lower on Wednesday after the Federal Reserve health interest rate study with AI-related cheap stocks
00:06adding to recent declines ahead of quarterly reports from Microsoft and Meta platforms.
00:12The Fed's widely expected decision to leave the benchmark interest rate in the 3.50% until 3.75%
00:20range drew descents from three of the 12 members of the policy setting, Federal Open Market Committee, who preferred a
00:28quarter percentage point hike at this meeting.
00:31Now let's take a look at the US market heat map which provides a visual snapshot of the S&P
00:36500 stocks across different sectors and industry.
00:40And on this map, the size of each box represents the company and market's capitalization, meaning the larger the box,
00:47the bigger the company.
00:48And the stocks are grouped by sectors, giving investors a quick overview of market sentiments and helps identify which sectors
00:55and companies are leading the market and which ones are under pressure.
00:59Obviously, for green, it means gains and trading higher, whereas the red indicates losses and trading lower to help us
01:08understand a bit how can we reach this US market.
01:12And we're going to start with one of the biggest within the technology is Microsoft.
01:17Microsoft, as you can see from here, update is down by 0.71% as of this morning.
01:25And the recent updates about Microsoft, it top Wall Street estimates for quarterly cloud revenue growth on Wednesday.
01:31The sign its massive spending on AI infrastructure was paying off as capacity constraints ease and more businesses adopt the
01:39technology.
01:40Revenue at the company's Azure cloud computing business rose 43% in its fiscal fourth quarter, compared with analyst consensus
01:49estimate of 39.98% according to Visible Alpha.
01:53Shares of Redmond, Washington-based Microsoft, were up about 4% in extended trading.
01:59Next, we're going to take a look at Meta.
02:02As of this morning, it is trading lower by 1.31%.
02:09And the latest update about Meta platforms, it was reported precipitous 91% drop in second quarter free cash flow
02:17on Wednesday.
02:18Underscoring the financial strain of the social media giant's costly AI build-out, despite an uncertain payoff.
02:25The Facebook parent company reported free cash flow of $784 million in the second quarter, ended June 30th, down from
02:33$8.55 billion, reported a year earlier, sending its shares down 10% in extended trading.
02:41Meta's cash flow wipe-up echo alphabets, which last week said it was cash flow negative for the first time
02:48ever as it spent $5.9 billion in the second quarter.
02:52The rate of spending stunned even the most bullish of Wall Street investors, driving alphabets' stock down.
02:58And that is the recent update.
02:59We'll bring you more updates on our website.
03:01Next is Apple, one of the biggest for consumer and electronics, is also trading lower at 0.56%.
03:09And Apple said on Wednesday that proposed UK rules governing its app store would amount to price regulations, arguing that
03:17plans to loosen its control over in-app's payments could undermine innovation and investment.
03:22In a submission to Britain's Competition and Markets Authority, the iPhone maker said proposed steering requirements would go beyond promoting
03:30competition and give the regulator a highly intrusive role in managing its business.
03:35The CMA's consultation, which closed on Monday, is part of its effort to boost competition and consumer choice.
03:42Its proposed measure would allow app developers to direct users to payment options outside Apple's App Store and Google's Play
03:50Store and require any fees charged for such steering to be fair and reasonable.
03:55And as of Thursday morning, you can see as a whole, most of the market and size category are trading
04:01at a lower phase.
04:03Despite we will bring you update from time to time to see how the US market is doing and how
04:09will this impacting the labor investors direction.
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