S&P and Nasdaq Futures Tumble on Amazon, Intel
S&P 500 futures tumbled 1.1% and Nasdaq 100 futures fell 2.5%, while Dow Jones futures hovered around the flatline on Friday, as a tech-sector sell-off following disappointing results from Amazon and Intel weighed on sentiment. Amazon plunged nearly 7% in premarket trading after reporting results that missed expectations. Intel sank more than 25% after issuing weaker-than-expected guidance. The results reignited concerns about the sustainability of the AI-driven rally. Micron fell 5.6%, Nvidia dropped 3% and Arm tumbled 9.7%. Alphabet, which plunged 12.6% on Thursday, extended its losses by around 1%. In contrast, ExxonMobil gained 1.8% after beating earnings expectations, while Chevron advanced 1.7% as both earnings and revenue came in above forecasts. For the week, the S&P 500 is up around 1% and the Nasdaq has gained 1.1%, while the Dow is down approximately 0.7%. So far in October, the Nasdaq has fallen 2.5%, whereas the S&P 500 has gained 0.9% and the Dow Jones has advanced 2.8%.
S&P 500 futures tumbled 1.1% and Nasdaq 100 futures fell 2.5%, while Dow Jones futures hovered around the flatline on Friday, as a tech-sector sell-off following disappointing results from Amazon and Intel weighed on sentiment. Amazon plunged nearly 7% in premarket trading after reporting results that missed expectations. Intel sank more than 25% after issuing weaker-than-expected guidance. The results reignited concerns about the sustainability of the AI-driven rally.
Micron fell 5.6%, Nvidia dropped 3% and Arm tumbled 9.7%. Alphabet, which plunged 12.6% on Thursday, extended its losses by around 1%. In contrast, ExxonMobil gained 1.8% after beating earnings expectations, while Chevron advanced 1.7% as both earnings and revenue came in above forecasts. For the week, the S&P 500 is up around 1% and the Nasdaq has gained 1.1%, while the Dow is down approximately 0.7%.
So far in October, the Nasdaq has fallen 2.5%, whereas the S&P 500 has gained 0.9% and the Dow Jones has advanced 2.8%.