Nasdaq-100 Futures Drop 1.4% as Alphabet Miss Spurs 9% Share Slide
Updated
Updated · CNBC · Oct 28
Nasdaq-100 Futures Drop 1.4% as Alphabet Miss Spurs 9% Share Slide
3 articles · Updated · CNBC · Oct 28
Summary
Nasdaq-100 futures fell 1.4% early Thursday, dragging S&P 500 futures down 0.5%, while Dow futures edged up 0.3%.
Alphabet sank 9% after missing third-quarter earnings and revenue estimates and reporting negative free cash flow of $9.07 billion, even as it kept its full-year capex outlook at $195 billion to $205 billion.
Microsoft rose 3% in after-hours trading after Azure-driven first-quarter beats, underscoring a split hyperscaler earnings picture as investors reassess the AI trade.
The market reaction follows Wednesday's Fed decision to hold rates at 3.75% to 4%, with policymakers signaling patience rather than ruling out further tightening.
Thursday's focus now shifts to September PCE inflation, first-look third-quarter GDP, jobless claims, and earnings from Caterpillar, Eli Lilly, Amazon and Intel.