Lululemon shares jump as S&P 500, Nasdaq close at record highs

The Nasdaq and the S&P 500 rose to record closing highs on Friday following upbeat forecasts from Lululemon Athletica and other companies and as U.S. jobs data fueled expectations the Federal Reserve would cut interest rates this month. The Dow finished lower, as a 5.1% drop in UnitedHealth Group UNH.N shares weighed on the index. The S&P 500 consumer discretionary index .SPLRCD…

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Big Tech investors concerned over slow returns on AI spending

Oct 31 (Reuters) – Big technology companies including Microsoft MSFT.O and Meta META.O are stepping up spending to build out AI data centers in a rush to meet vast demand, but Wall Street is hungry for a quicker payday on the billions invested. Microsoft and Meta both said on Wednesday their capital expenses were growing due to their AI investments. Alphabet GOOGL.O,…

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