{
  "id": 17035083,
  "title": "Nasdaq futures slide as mixed Big Tech results test AI trade",
  "url": "https://urgent.news/2026/10/29/nasdaq-futures-slide-as-mixed-big-tech-results-test-ai-trade",
  "topic": "ai",
  "section": "AI",
  "published": "2026-10-29T08:33:23.000Z",
  "source": {
    "name": "CNA - Business",
    "slug": "cna-business",
    "url": "https://www.channelnewsasia.com/business/nasdaq-futures-slide-mixed-big-tech-results-test-ai-trade-6502816"
  },
  "original_language": "en",
  "account": "Nasdaq futures declined on Thursday as Alphabet and Microsoft reported mixed earnings, prompting investors to assess the benefits of extensive AI investments. Alphabet's shares fell 10.5% in premarket trading following disappointing search advertising results and increased AI-related cash burn. Investors are now questioning when these companies will see returns on their AI spending, as compared to their capital expenditure rates. Microsoft, on the other hand, rose 3.5% after delivering strong cash flow and forecasting robust cloud growth, indicating that its AI investments are paying off.\n\nCybersecurity company Fortinet dropped 25.4% after reporting third-quarter results, while ServiceNow fell 19% after missing profit estimates. Other software-related companies, including Zscaler and Salesforce, also underperformed. Marvell Technology declined 9.4% amid reports of advanced talks to acquire data-center optics maker Lumentum Holdings, with Lumentum shares rising 4.3%. The semiconductor sector as a whole was trading lower, with Nvidia down 1%, AMD slipping 3.3%, and Intel falling 3.6%.\n\nIntel and Amazon are among the major tech companies scheduled to report earnings after the market closes on Thursday. Earlier in the day, the Federal Reserve maintained interest rates as expected, delaying any changes until after the upcoming US midterm elections. This decision is seen as a brief pause to evaluate the situation before a potential rate hike in December, according to a senior US economist from Aberdeen. The Fed's focus will be on the September Personal Consumption Expenditures report, which provides a preferred inflation gauge, and the third-quarter GDP release. Traders currently estimate an 81% chance that the Fed will increase interest rates in December due to elevated inflation metrics and the Middle East conflict's oil shock.",
  "summary": null,
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}