Communication Services stocks: Verizon surge lifts Communication Services Select Sector SPDR Fund as Alphabet, Walt Disney earnings loom
Verizon surged 11.8% after forecasting higher annual profit and free cash flow, and launching a $25 billion buyback. Charter Communications rose 7.6% on a smaller-than-expected broadband subscriber loss. Meta Platforms fell nearly 3% after raising its 2026 capital spending forecast by 73%. The S&P 500 slipped 0.43% amid Fed chair news and inflation data.