With the vast majority having reported, S&P 500 companies were on track to increase fourth-quarter earnings by 10% from the year-earlier period, according to LSEG IBES data, which would be the biggest rise since the first quarter of 2022.
AI stocks retreat as Democratic sweep puts data centre boom in focus
AI-related stocks came under pressure on Wednesday despite a broader Wall Street rally following the Democratic sweep of Congress. Data centre companies CoreWeave, Iren and