U.S. stock indices closed lower on Thursday and extended declines after hours as Amazon's bloated capital expenditures fed investor fears that the AI capex cycle may have gotten ahead of itself. During the session, the Nasdaq 100 fell 1.4% and the S&P 500 lost 0.3%, while the Russell 2000 gained 1%. Amazon (AMZN) shares dropped about 7% after hours after it spent upwards of $77 billion on property and equipment in the third quarter, producing a free cash outflow of $42.4 billion, even as revenue rose 12% to $201.9 billion. Intel (INTC) shares tumbled about 17% after hours after it forecast weaker-than-expected fourth-quarter revenue and earnings amid a PC sales slump and supply bottlenecks. On the other side, JPMorgan turned bullish on Palantir (PLTR), forecasting a stock rally of more than 30%.
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Related tickers and likely impact
AMZN
▼ Likely negativeAmazon
Relevance: medium
| Market | US stocks |
|---|---|
| Sector | Consumer Discretionary |
| Industry | Broadline Retail |
| Market cap | $2.7T |
| Close on 10/29/2026 | 244.23 |
| Change that session | -4.07% |
QQQ
▼ Likely negativeInvesco QQQ Trust
Relevance: medium
| Market | US stocks |
|---|---|
| Sector | ETF |
| Close on 10/29/2026 | 715.33 |
| Change that session | -1.42% |
SPY
▼ Likely negativeSPDR S&P 500 ETF
Relevance: medium
| Market | US stocks |
|---|---|
| Sector | ETF |
| Close on 10/29/2026 | 769.53 |
| Change that session | -0.36% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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