U.S. stock index futures diverged in premarket trading on Thursday as Alphabet's third-quarter earnings triggered a sell-off in its shares and AI concerns returned, weighing on tech-heavy indexes. Dow Jones Industrial Average futures (YM=F) rose 0.3%, while S&P 500 futures (ES=F) fell 0.4% and Nasdaq-100 futures (NQ=F) dropped 1.3%. Alphabet's sales fell short of expectations, and although Google's cloud growth reached 103%, worries about free cash flow and the return on AI investment weighed on the stock. The AI sell-off spread to Asian markets, with South Korea's Kospi (^KS11) declining, and the iShares Semiconductor ETF (SOXX), Nvidia, AMD and Micron also fell after hours. Investors are awaiting Amazon's results after the close and core PCE inflation data, expected to rise 3.1%, due a day after the Fed's rate decision.
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GOOGLtech stocksartificial intelligenceNasdaqS&P 500
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Related tickers and likely impact
GOOGL
▼ Likely negativeAlphabet Inc. (Class A)
Relevance: high
| Market | US stocks |
|---|---|
| Sector | Communication Services |
| Industry | Interactive Media & Services |
| Market cap | $4.0T |
| Close on 10/28/2026 | 325.61 |
| Change that session | +1.57% |
QQQ
▼ Likely negativeInvesco QQQ Trust
Relevance: medium
| Market | US stocks |
|---|---|
| Sector | ETF |
| Close on 10/28/2026 | 725.59 |
| Change that session | +0.60% |
NVDA
▼ Likely negativeNvidia
Relevance: low
| Market | US stocks |
|---|---|
| Sector | Information Technology |
| Industry | Semiconductors |
| Market cap | $5.1T |
| Close on 10/28/2026 | 215.39 |
| Change that session | -1.17% |
SPY
• NeutralSPDR S&P 500 ETF
Relevance: low
| Market | US stocks |
|---|---|
| Sector | ETF |
| Close on 10/28/2026 | 772.35 |
| Change that session | +0.35% |
MSFT
• NeutralMicrosoft
Relevance: low
| Market | US stocks |
|---|---|
| Sector | Information Technology |
| Industry | Systems Software |
| Market cap | $3.9T |
| Close on 10/28/2026 | 530.83 |
| Change that session | -0.09% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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