U.S. Futures Slip as Alphabet Drops 3% on $205 Billion AI Spending Plan
Updated
Updated · CNBC · Jul 22
U.S. Futures Slip as Alphabet Drops 3% on $205 Billion AI Spending Plan
3 articles · Updated · CNBC · Jul 22
Summary
Dow futures fell 75 points, S&P 500 futures lost 0.3% and Nasdaq 100 futures dropped 0.4% late Wednesday as investors digested Alphabet's outlook and higher oil.
Alphabet slid 3% in extended trading after raising its 2026 capital-expenditure forecast to as much as $205 billion, reviving investor unease over whether hyperscalers' AI spending will pay off.
Oil prices rose after fresh U.S. strikes on Iran and Secretary of State Marco Rubio said Tehran was "not serious about talks," pushing traders to recalculate inflation and Fed-rate risks.
Asia-Pacific markets opened higher despite the U.S. futures pullback, with South Korea's Kospi up 2.3% and Japan's Nikkei 225 ahead 0.55%.
Thursday's next tests include earnings from American Airlines, T-Mobile and Intel, along with weekly jobless claims at 8:30 a.m. ET.