Company headlines added stock-specific swings within the broader US stock market. Microsoft shares fell as much as 3% after a report suggested the company cut internal targets for selling new artificial intelligence products to corporate clients. The stock later trimmed losses to about 1.7% after another report said the firm had not reduced sales quotas for staff.
Marvell Technology rose about 4.7% after the chip designer signaled that its custom silicon business continues to win repeat orders tied to data center AI spending. The Bloomberg Magnificent 7 Total Return Index, which includes Microsoft, advanced about 0.4%.
In the consumer sector, American Eagle Outfitters jumped after the apparel retailer reported stronger-than-expected quarterly results and raised its outlook. Macy’s slipped as its profit guidance failed to match investor hopes, even though recent trading ahead of the holiday season met expectations.
Investors watched US stock market indexes closely as each new jobs report shaped rate expectations. Analysts said the latest data and price moves fit a “soft landing” narrative for the US economy. Markets now price modest policy easing, slower but positive growth, and ongoing support for risk assets as long as labor market weakness remains gradual.