U.S. stock futures split early Friday, with Nasdaq 100 contracts down more than 2% as investors weighed fresh technology earnings, heavy spending plans and market pricing for higher rates.
At 4:07 a.m. ET (08:07 UTC) Friday, Oct. 30, Dow futures were down 0.05% near 52,490, S&P 500 futures had slipped 0.90% to about 7,680, and Nasdaq 100 futures stood near 28,960 after falling more than 2%, FXStreet reported.
Investors were coming off losses in Thursday’s cash session. The Nasdaq Composite dropped 1.4%, while the S&P 500 and Dow Jones Industrial Average each lost 0.3%; the Associated Press (AP) said Alphabet’s 12.6% share decline after results missed analyst expectations was the main drag. Alphabet’s third-quarter revenue nevertheless rose 25% to $127.6 billion.
Amazon’s third-quarter net sales reached $201.9 billion, 12% above the year-earlier figure, and Amazon Web Services revenue grew 39% to $46 billion, the company said. Its free cash flow for the 12 months through Sept. 30 was negative $42.4 billion, and its 2026 cash capital expenditure forecast remained about $220 billion. AP reported that FactSet estimates were $1.97 per share and $202.2 billion in sales, and that Amazon shares fell 7% after hours. Amazon said most of its increased property and equipment purchases reflected AI investment; AP and Reuters have described investor concern about returns on that spending. The earnings add to EconoTimes’ earlier coverage of technology-share pressure tied to AI spending.
Intel reported third-quarter revenue of $16.5 billion, up 21% from a year earlier. Its fourth-quarter outlook called for revenue of $15 billion to $16 billion and non-GAAP diluted earnings of $0.25 per share. Reuters reported that both figures were below LSEG analyst estimates and that Intel shares fell 23% after hours. Intel Chief Financial Officer David Zinsner said he expects weakness in the PC market to last at least into the first half of 2027.
The Federal Open Market Committee (FOMC) voted 10-2 on Oct. 28 to keep the federal funds target range at 3.75% to 4.00%. Federal Reserve Governor Lisa D. Cook and Cleveland Fed President Beth M. Hammack favored a quarter-point increase. FXStreet put market-implied odds of a December hike at about 75%, down from 84.2% a day earlier; CME says its FedWatch probabilities are derived from 30-Day Fed Funds futures.
The Bureau of Economic Analysis (BEA) estimated that real U.S. gross domestic product grew at a 3.4% annual rate in the third quarter, versus 2.2% in the second. It cited investment, consumer spending and government spending, partly offset by lower exports. The BEA’s second estimate is scheduled for Nov. 25, and the FOMC’s next meeting is set for Dec. 8-9.
