US Futures Lower, Alphabet Sinks
US stock futures fell on Thursday, with S&P 500 futures down 0.4%, Nasdaq 100 futures sliding 1.1% and Dow Jones futures losing 150 points, as renewed concerns over the sustainability of the AI trade weighed on sentiment after earnings from some hyperscalers disappointed investors. Alphabet plunged more than 11% in premarket trading after missing earnings and revenue expectations. Amazon and Intel, both due to report results after the closing bell, fell 2.2% and 3.5%, respectively. Caterpillar tumbled more than 10% after forecasting “moderate” sales growth in the Q4. In contrast, Microsoft gained 1.3% on solid cloud sales. Eli Lilly jumped 4.7% after raising its revenue outlook on the back of strong demand for its weight-loss drugs, while Merck advanced 2.4% after lifting its guidance.
US stock futures fell on Thursday, with S&P 500 futures down 0.4%, Nasdaq 100 futures sliding 1.1% and Dow Jones futures losing 150 points, as renewed concerns over the sustainability of the AI trade weighed on sentiment after earnings from some hyperscalers disappointed investors. Alphabet plunged more than 11% in premarket trading after missing earnings and revenue expectations. Amazon and Intel, both due to report results after the closing bell, fell 2.2% and 3.5%, respectively. Caterpillar tumbled more than 10% after forecasting “moderate” sales growth in the Q4.
In contrast, Microsoft gained 1.3% on solid cloud sales. Eli Lilly jumped 4.7% after raising its revenue outlook on the back of strong demand for its weight-loss drugs, while Merck advanced 2.4% after lifting its guidance.