S&P 500 falls to 7,580.07 as Alphabet, Amazon.com earnings disappoint

The week's market pullback came after quarterly results from Magnificent-7 stocks disappointed investors. Alphabet's Q3 earnings unexpectedly slid from a year ago, with sales lagging as more people using artificial-intelligence-led summaries hit Google search revenue. Amazon.com reported an unexpected drop in Q3 earnings and a $42.4 billion negative free cash flow over the last 12 months following investments in artificial intelligence infrastructure. Intel's Q3 revenue fell short of analyst estimates and its Q4 outlook also missed market expectations, while Microsoft posted fiscal Q1 adjusted earnings and revenue that beat market expectations. These results, alongside Anthropic's IPO filing with the US Securities and Exchange Commission under the symbol "ANT" and the Federal Reserve's decision to maintain interest rates at 3.75% to 4.00%, set the backdrop for the indexes' decline. Communication services and technology led decliners, while healthcare and utilities led gainers, as investors weighed the mixed earnings against other market-moving events, including geopolitical tensions in the Strait of Hormuz and the upcoming final Q3 GDP estimate due Nov. 25.