US Futures Slide as Alphabet Shares Tumble
US stock futures declined on Thursday following disappointing earnings from Alphabet, reigniting concerns over the substantial costs of artificial intelligence investments. Nasdaq 100 futures fell more than 1%, while S&P 500 futures slipped 0.5%. In after-hours trading, Google’s parent company, Alphabet, plunged around 10% after reporting weaker-than-expected third-quarter revenue across most of its core businesses, which help finance its AI spending. Meanwhile, Microsoft rose nearly 3% after delivering better-than-expected quarterly results, supported by strong growth in its Azure cloud infrastructure business. During Wednesday’s regular session, the Dow gained 0.19%, the S&P 500 advanced 0.28%, and the Nasdaq Composite climbed 0.27%. The gains came after the Federal Reserve kept interest rates unchanged, despite two policymakers dissenting in favor of a 25-basis-point rate increase. Fed Chair Kevin Warsh expressed confidence that inflation expectations remained well anchored.
US stock futures declined on Thursday following disappointing earnings from Alphabet, reigniting concerns over the substantial costs of artificial intelligence investments. Nasdaq 100 futures fell more than 1%, while S&P 500 futures slipped 0.5%. In after-hours trading, Google’s parent company, Alphabet, plunged around 10% after reporting weaker-than-expected third-quarter revenue across most of its core businesses, which help finance its AI spending. Meanwhile, Microsoft rose nearly 3% after delivering better-than-expected quarterly results, supported by strong growth in its Azure cloud infrastructure business.
During Wednesday’s regular session, the Dow gained 0.19%, the S&P 500 advanced 0.28%, and the Nasdaq Composite climbed 0.27%. The gains came after the Federal Reserve kept interest rates unchanged, despite two policymakers dissenting in favor of a 25-basis-point rate increase. Fed Chair Kevin Warsh expressed confidence that inflation expectations remained well anchored.