Tech Stocks Dip as Walmart's New CEO Sets Conservative Tone

Wall Street's major indexes were poised for a lower opening Thursday, halting a three-day rally for the S&P 500, as shares of top technology companies retreated while Walmart's stock experienced volatility. The retail giant unveiled a conservative fiscal 2027 outlook under CEO John Furner, which missed analyst projections.

In the tech sector, stocks such as Apple, Nvidia, and Meta Platforms saw declines following previous gains. Recent fluctuations in AI-related stocks were attributed to worries over high valuations and uncertainties regarding AI-driven profits. These concerns have impacted diverse sectors, from software to trucking, as businesses weigh potential disruptions from evolving AI tools.

Markets also reacted to earnings reports from various companies, with DoorDash and eBay seeing positive responses to upbeat forecasts, while Carvana and EPAM Systems faced declines after falling short of profit expectations. The Federal Reserve's policy minutes highlighted differing opinions among policymakers on rate adjustments amid fluctuating inflation.