US EQUITY OPEN: Indices mixed but NDX leads losses amid AMD weakness ahead of GOOGL/QCOM earnings

The US equity markets show mixed performance with the NASDAQ (NDX) facing losses, largely driven by weakness in Advanced Micro Devices (AMD) ahead of key earnings reports from Alphabet (GOOGL) and Qualcomm (QCOM).

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US ISM Services Business Activity (Jan) 57.4 (Prev. 55.2, Rev. From 56.0)

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US EQUITY OPEN: Indices mixed but NDX leads losses amid AMD weakness ahead of GOOGL/QCOM earnings

US S&P Global Services PMI Final (Jan) 52.7 vs. Exp. 52.5 (Prev. 52.5)

US S&P Global Composite PMI Final (Jan) 53 vs. Exp. 52.8 (Prev. 52.7)

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Context

This dynamic suggests that traders are concerned about semiconductor performance impacting broader tech sentiment, which could indicate a cautious outlook as we approach these earnings releases. Keep an eye on AMD's influence, as its struggles may reflect broader trends in the tech sector and affect market sentiment leading into GOOGL and QCOM's results.

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