- Futures tied to the Nasdaq fell sharply on Wednesday, as quarterly earnings from Tesla and Alphabet underscored investor concerns around the dominance of Big Tech stocks that have boosted Wall Street to all-time highs.
Most of the so-called Magnificent Seven, a bunch of megacap tech stocks, have notched double- to triple-digit percentage gains so far in 2024, riding on optimism around AI and an early start to Federal Reserve rate cuts. Other megacaps including Apple, Microsoft, Amazon.com, Meta Platforms and Nvidia were down between 0.5% and 2%.
Further on the earnings front, solar inverter maker Enphase Energy jumped 6.9% after beating estimates for second-quarter operating profit. Global Data Center Generator Market Global Data Center Generator Market Dublin, July 24, 2024 -- The "Global Data Center Generator Market - Outlook & Forecast 2024-2029" report has been added to ResearchAndMarkets.com's offering.The Global Data Center Generator Market was valued at USD 6 billion in 2023, and is expected to reach USD 10.83 billion by 2029, rising at a CAGR of 10.34%.