Futures fell as Wall Street braced for another steep day of losses on Friday. The decline followed the latest Big Tech earnings, which reignited concerns that massive AI spending may not deliver the returns investors expect.
Summary written by Upside AI from the original article. Read the source for full details.
Read the original on Yahoo Finance ↗
Keywords
Wall StreetAI investmenttech stocksQQQ
Open a keyword to see other news on the same topic.
Related tickers and likely impact
QQQ
▼ Likely negativeInvesco QQQ Trust
Relevance: high
| 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: high
| Market | US stocks |
|---|---|
| Sector | ETF |
| Close on 10/29/2026 | 769.53 |
| Change that session | -0.36% |
NVDA
▼ Likely negativeNvidia
Relevance: medium
| Market | US stocks |
|---|---|
| Sector | Information Technology |
| Industry | Semiconductors |
| Market cap | $5.1T |
| Close on 10/29/2026 | 213.72 |
| Change that session | -0.77% |
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% |
GOOGL
▼ Likely negativeAlphabet Inc. (Class A)
Relevance: medium
| Market | US stocks |
|---|---|
| Sector | Communication Services |
| Industry | Interactive Media & Services |
| Market cap | $4.0T |
| Close on 10/29/2026 | 283.75 |
| Change that session | -12.66% |
META
▼ Likely negativeMeta Platforms
Relevance: medium
| Market | US stocks |
|---|---|
| Sector | Communication Services |
| Industry | Interactive Media & Services |
| Market cap | $1.7T |
| Close on 10/29/2026 | 624.54 |
| Change that session | +1.97% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
Related news
- Tech Earnings Drive Losses on Wall Street Pre-Bell; Asia Off, Europe Mixed
Wall Street futures pointed lower before the Friday opening bell as traders reacted negatively to earnings that fell short of expectations. The rest of the article is cut off in the data.
- Tech jitters pull down Wall Street stocks
Wall Street's main indices fell Thursday as investors sold shares in Google's parent Alphabet, which posted lower-than-expected profit and a sharp drop in free cash flow while keeping big AI spending. The tech-heavy Nasdaq Composite dropped 1.4 percent, and Alphabet shares fell over 10 percent on concerns that AI search could undermine Google's ad business. In Europe, indices advanced on strong results from Shell and TotalEnergies, which benefited from Middle East supply disruptions that lifted prices and refining margins, while crude shed around two percent on renewed US-Iran diplomatic efforts. Samsung Electronics posted record quarterly profits but missed expectations in its chip division, and South Korea's Kospi fell 1.2 percent. Microsoft beat revenue and profit forecasts on its Azure cloud business, and its shares added 0.8 percent.
- The Weekly Close : Tech Slide Mars Weekly Stock Market Recap
Wall Street moved in different directions last week: the Nasdaq 100 (QQQ ETF) fell 1.72% in the week to 24 October 2026, the S&P 500 (SPY ETF) slipped 0.78% to close at 761.11, while the Dow (DIA ETF) rose 0.50%. Semiconductor and hardware stocks led the declines, while industrial and defensive names held up. Hasbro (NASDAQ: HAS) was the top gainer, up 19.15% to $117.60, while Comfort Systems USA (NYSE: FIX) had the sharpest drop, falling 21.41% to $1,160.00. Treasury yields fell across the curve, with the 10-year easing to 4.96% as of 22 October from 5.13%, and WTI crude slipped to $107.89 from $110.01, according to Federal Reserve Bank of St. Louis data. The article notes no significant insider sales were disclosed among the tracked names.
- Wall Street diverges Tuesday , industrials advance , techs slip
- Wall Street diverges Tuesday , industrials advance , techs slip
- Wall Street diverges Tuesday, industrials advance, techs slip
Related markets
Latest news
- Binance Attack: Warning on Risks in Digital Asset Governance
Binance suffered an October 30 attack causing losses estimated in the billions of USD. According to the Vietnam Blockchain and Digital Asset Association (VBA), the attacker used EIP-7702, a feature in Ethereum's Pectra upgrade from May 2025 that lets a regular wallet temporarily run smart contract code, though activation still requires the private key's signature. ChainTracer on-chain data showed Binance 14 was authorized through EIP-7702, Binance 16 made transfers signed with its own private key, and Hot Wallet 34 was indirectly controlled via Binance 14. Tether froze over 1.5 billion USDT and Circle froze 823 million USDC. VBA's chairman stressed that exchange security depends on key governance and signing controls, including multi-party signing and real-time on-chain monitoring.
- Nvidia to prop up British AI giant as data centre boom unwinds
Nvidia is reportedly in talks to provide credit support for Nscale's new flagship data centre in West Virginia, which Anthropic plans to use, to backstop construction and electricity costs. The move, first reported by The Information, follows Microsoft's withdrawal from a similar agreement for a major data centre in Essex, a project now delayed and in limbo. That decision has cast doubt on Nscale's plan to list on the New York Stock Exchange in a flotation worth up to $35 billion, amid broader concerns about AI infrastructure returns. Neocloud peers CoreWeave and Nebius have seen their shares and bonds slump, while Nscale has been privately valued at $15 billion.
- Alphabet lost $482 billion in market cap in 1 day. The fix? Have its chatbot suggest you stuff to buy
Alphabet (GOOG) shares fell 12% on Thursday, erasing about half a trillion dollars in value and pulling the Nasdaq down 365 points, or about 1.4%. According to the Financial Times, it was the second-largest one-day drop in market value on Wall Street, behind Nvidia's loss of $593 billion in January 2025. Alphabet's third-quarter results were weak, with negative cash flow of $9.1 billion amid about $50 billion in AI spending, and Google Search ad sales of $63.35 billion fell short of the $64.85 billion investors hoped for, per Bloomberg. Bloomberg attributes the shortfall partly to AI Overviews and AI Mode, which leave Google less room to show ads.
- Apple Sentiment Cautious On December-Ending Quarter Outlook
Apple stock is trading near record highs ahead of its fiscal fourth-quarter report, due late Monday.
- Microsoft returns to bond market to fuel massive capital spending plans
Triple-A rated Microsoft priced $25 billion of senior notes in 10 parts on October 29, after saying its capital spending, which exceeded $50 billion in the latest quarter and is projected at roughly $170 billion for the fiscal year, would accelerate next year. The notes were priced at 5.20% for five years (T+45), 5.55% for 10 years (T+65) and 6.25% for 30 years (T+95), and traded 2-3 bps wide of pricing in early trading on October 30. Five traditional hyperscalers, including Amazon, Alphabet, Meta Platforms, Microsoft and Oracle, have issued $182 billion of senior notes in US markets this year, up from $93.3 billion last year and under $17 billion in 2024.
- 'Banks Have Gotten Drunk' on AI Megadeals, USD.AI Co-Founder Says
According to USD.AI co-founder Conor Moore, speaking to Benzinga in an exclusive interview, Wall Street banks favor huge AI financing deals while smaller GPU operators struggle to borrow. He says banks have 'gotten drunk' on these large IG deals.
Get the briefing on Telegram or Zalo
Join the Upside Telegram channel or Zalo group for the Vietnam stocks and gold briefing at 8:00 and 19:00 (Vietnam time) on trading days, plus a weekly wrap on Saturday morning.