Market Falls Wednesday, but Googles Chip Impresses | WST

Just past 4 pm ET the $S&P 500 Index (.SPX.US)$ traded -0.30%, the $Dow Jones Industrial Average (.DJI.US)$ fell 0.35%, and the $Nasdaq Composite Index (.IXIC.US)$ fell 0.25%.

"It checks whether a quantum computer is doing something that couldn’t be done on a classical computer. It performed a computation in under five minutes that would take one of today’s fastest supercomputers 10^25, 10 septillion years," the firm said. "It lends credence to the notion that quantum computation occurs in many parallel universes, in line with the idea that we live in a multiverse, a prediction first made by David Deutsch."

Elsewhere in the economy, $Crude Oil Futures(MAR5) (CLmain.US)$ it remained at $69. Gold and silver climbed, and treasuries climbed. $Bitcoin (BTC.CC)$ hovered at $96k.

$Alphabet-A (GOOGL.US)$ said their finding might reflect the existence of parallel universes. Both share classes of its stock climbed 5% on the news, leading percentage gainers on the S&P 500.

$Boeing (BA.US)$ stock climbed 4%, leading percentage gainers on the Dow after a report from Reuters that the firm had restarted its 737 MAX jetliner production last week, about a month after the end of a seven-week strike by its factory workers.

$GameStop (GME.US)$ reported Q3 2024 adjusted earnings of $0.06/share, over analyst estimates of a 6C loss, but the stock did not gain much ground. The firm said sales missed estimates, coming in at $860.3M vs estimates of $887.7M.

$C3.ai (AI.US)$ shares jumped more than 6% after Morgan Stanley said the company's strategic alliance with $Microsoft (MSFT.US)$ in October was a game changer. Under the 5.5-year agreement, C3.ai will be established as a preferred AI application on Azure, with all C3.ai enterprise AI apps available on the Azure portal. C3.ai solutions can also be ordered on the Azure Marketplace, allowing customers to fulfill their Azure commitments using C3.ai applications.

$Oracle (ORCL.US)$ stock took a dive after the software firm's latest quarterly performance left investors unimpressed. Analysts, however, seem to think the market is overreacting. Shares were down 8.4% to $174.54 in early trading Tuesday, following earnings for the second fiscal quarter ended Nov. 30, posted after the bell Monday.

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