U.S. stock futures sink, Nasdaq down 2% as Amazon, Intel earnings underwhelm

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U.S. stock futures sink, Nasdaq down 2% as Amazon, Intel earnings underwhelm Ambar Warrick Thu, October 29, 2026 at 9:36 PM EDT 3 min read AMZN -4.25% ^DJI -0.25% INTC -3.62% ^NDX -1.38% ^GSPC -0.30% Investing.com-- U.S. stock index futures fell on Thursday evening, with technology stocks set to extend losses after earnings from Amazon and Intel missed market estimates. Still guessing which stocks will beat the market? Our AI portfolio updates monthly and is outperforming the S&P 500 by 118%. See this month's list » Nasdaq 100 Futures were the worst performers, sliding 2% to 28,975.0 points by 20:47 ET (00:47 GMT). S&P 500 Futures fell 0.8% to 7,690.25 points, while Dow Jones Futures rose 0.04% to 52,533.0 points. Futures fell following a negative session on Wall Street, where technology remained squarely on the backfoot after disappointing earnings from Alphabet. The NASDAQ Composite slid 1.4%, pressured by a 12.6% wipeout in the Google owner. The Dow Jones Industrial Average fell the least among its peers, as investors pivoted into defensive sectors like healthcare and utilities to duck the fallout from the tech rout. Amazon.com Inc (NASDAQ:AMZN) fell 6.7% in aftermarket trade, extending losses after a 4.3% drop during Thursday's session. The ecommerce and cloud giant missed top and bottom-line estimates with its September quarter earnings, while outsized spending on artificial intelligence also pushed the company's free cash flow further into negative territory. Amazon's print added to concerns over stretched spending on AI, and whether the billions of dollars poured into the sector will be able to supply adequate returns. Unsure what to buy ahead of earnings? Our AI's recent pre-earnings calls delivered gains of +77% to +118% after results dropped. See this month's earnings picks » Said concerns were squarely in focus following a disappointing print from Alphabet Inc (NASDAQ:GOOGL), which also showed a deterioration in margins from AI-related spending. Intel Corporation (NASDAQ:INTC)l slumped nearly 23% after-hours as a strong third-quarter profit was vastly outweighed by disappointing forecasts for the fourth quarter. Intel's Q3 revenue also missed estimates. The print underscored increasingly diverging trends for Intel– while their server CPU business has benefited from AI-driven demand, its PC unit is facing increasing pressure from soaring AI-related costs and steadily worsening consumer demand. Amazon and Intel's prints also came following underwhelming earnings from memory chip giant Samsung Electronics (KS:005930), which added to growing concerns over stretched AI spending. Adding to pressure on equity markets, investors largely maintained bets that the Federal Reserve will hike interest rates in December. Stronger-than-expected third-quarter gross domestic product data and upbeat PCE price index data furthered bets on a December hike, with strong growth and sticky inflation seen giving the Fed more impetus to raise rates. The central bank left interest rates unchanged at 4.0% earlier this week as widely expected. Fed Chair Kevin Warsh reiterated the Fed's commitment to its 2% annual inflation target while highlighting recent strength in the economy, with investors viewing his comments as likely heralding more monetary tightening by the Fed. U.S. stock futures sink, Nasdaq down 2% as Amazon, Intel earnings underwhelm Anthropic accounts for over a third of SpaceX revenue in Q3, Bloomberg reports Nasdaq closes over 1% lower as post-earnings slide in Alphabet weighs on AI trade

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