{
  "id": 17036366,
  "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-17036366",
  "topic": "ai",
  "section": "AI",
  "published": "2026-10-29T08:33:23.000Z",
  "source": {
    "name": "Channel News Asia",
    "slug": "channel-news-asia",
    "url": "https://www.channelnewsasia.com/business/nasdaq-futures-slide-mixed-big-tech-results-test-ai-trade-6502816"
  },
  "original_language": "en",
  "account": "Nasdaq futures fell on Thursday as Alphabet and Microsoft's mixed earnings tested investors' enthusiasm for AI spending, with attention also directed at an inflation reading released the day after the Federal Reserve maintained interest rates. Alphabet plummeted 10.5% in premarket trading following disappointing search advertising results and a surge in cash burn due to increased AI investments. Investors are now questioning when these companies will see returns on their AI expenditures, as Jeremy Saltzberg, a senior investment officer at Check Capital Management, noted that some investors are no longer willing to let hyperscalers spend without limits. Microsoft, however, rose 3.5% after reporting strong cash flow and projecting robust cloud growth, indicating that its significant AI investments are bearing fruit. Other notable performers in the sector included Fortinet, which fell 25.4% after reporting weak third-quarter results, and ServiceNow, which fell 19% after missing profit expectations. Zscaler and Salesforce also lagged behind in sector weakness. Meanwhile, Marvell Technology dropped 9.4% following reports of advanced talks to acquire data-center optics maker Lumentum Holdings, with Lumentum shares jumping 4.3%. The broader semiconductor sector traded lower, with Nvidia down 1%, AMD down 3.3%, and Intel down 3.6%. Intel and Amazon are among major tech companies reporting earnings after the market closes on Thursday. Pre-market, Dow E-minis were up 185 points, while S&P 500 E-minis were down 31 points and Nasdaq 100 E-minis were down 365 points. The Federal Reserve kept interest rates steady on Wednesday, aiming to assess data on inflation before potential policy hikes in December, according to Jon Butcher, a senior US economist at Aberdeen. Traders anticipate a high probability of a December rate hike, with a 81% chance according to the CME FedWatch Tool. In other news, Carvana jumped 9.2% after surpassing third-quarter revenue estimates, and Chipotle Mexican Grill rose 6.7% after reporting better-than-expected comparable sales.",
  "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."
}