U.S. stocks tumbled Friday after government employment data showed more than half a million jobs were added in January — throwing a wrench in hopes for a pause on rate increases — while subpar earnings results from Big Tech giants weighed on investor sentiment.
(Bloomberg) -- The profit outlook for companies in the S&P 500 Index is rapidly deteriorating — yet analysts can’t raise their stock-price targets fast enough.Most Read from BloombergTrump Offers $1 Million Bond to Appeal Clinton Suit SanctionsThousands Mistake US Research Balloon for Chinese Spy CraftFrom China to Big Sky: The Balloon That Unnerved the White HouseWhat You Need to Know About the Suspected Chinese Spy Balloon Floating Over the USGeorge Santos Produced Ill-Fated Spider-Man Musical
One bright spot in the report was Apple Services revenue. Services, which include Apple Music, TV, News, Card and others is quickly becoming a major contributors to the bottom line, and just in time