Nasdaq 100 Futures Drop 0.7% as Alphabet Earnings Test AI Spending
Updated
Updated · Bloomberg · Jul 22
Nasdaq 100 Futures Drop 0.7% as Alphabet Earnings Test AI Spending
3 articles · Updated · Bloomberg · Jul 22
Summary
Nasdaq 100 futures fell 0.7%, halting a two-day rebound as investors waited for Alphabet results for the clearest signal yet on whether hyperscalers’ heavy AI outlays are paying off.
S&P 500 contracts slipped 0.3%, showing the caution spread beyond big tech even before the earnings release.
Asian tech-heavy markets also lost momentum — South Korea’s Kospi trimmed strong early gains — while Europe’s technology sector lagged sharply in the Stoxx 600.
The pullback underscores how a single earnings report is being treated as a broader test of the AI investment case driving major technology stocks.