Alphabet, Eli Lilly and Estee Lauder rise premarket; Meta, Microsoft fall By Investing.com

**Summary:**The U.S. stock market opened lower after the Federal Reserve's interest rate cut, with major tech companies reporting their latest earnings. Meta Platforms' stock plummeted over eight percent due to increased AI research spending, while Microsoft's shares dipped as it announced higher AI investments. Alphabet, however, surged seven and a half percent on strong digital ad and cloud computing revenue.Other companies also made headlines with their earnings results. Kimberly-Clark and Restaurant Brands saw stock gains, while Advance Auto Parts soared over sixteen percent on better-than-expected earnings. The healthcare and beauty sectors contributed to the market's activity, with Eli Lilly's stock climbing more than five percent on strong demand for its weight loss treatment and Merck's stock slipping on weaker Gardasil vaccine sales. Estee Lauder jumped over five percent on beating sales and profit estimates.These market movements highlight the impact of massive AI investments and changing consumer spending habits on companies' strategies and profits. Investors are closely monitoring tech giants' balance between ambitious research and profits, and how companies across various sectors adapt to shifting demand and economic pressures.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.