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Futures Steady as Tech Selloff Eases; Amazon Drops on AI Spending Surge

U.S. stock futures held steady in early premarket trading after a sharp tech-led decline earlier in the week, giving investors a moment to reassess the sector’s rapid pullback. Major index futures hovered near flat, suggesting a more measured tone after days of volatility. While sentiment remains cautious, some traders appear to be stepping back in following the recent selloff in high‑growth names. Amazon shares slipped in premarket action after the company signaled a significant increase in capital expenditures tied to artificial intelligence infrastructure. The planned investment highlights Amazon’s push to expand its AI capabilities, but the scale of spending raised concerns about near‑term pressure on margins. Market attention now turns to upcoming economic data and corporate earnings, which could help determine whether tech stocks regain momentum or continue to face headwinds. For the moment, futures point to a steadier start as investors look for the next catalyst.
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Wall Street Stumbles Toward Longest Weekly Losing Streak Since September


Wall Street is stumbling to close out its latest losing week. U.S. stocks fell after oil prices briefly surged overnight on worries about fighting in the Middle East. The S&P 500 was 0.7% lower in afternoon trading and on track for its third straight losing week. That would be its longest such streak since September, before it broke out into a record-setting romp. The Dow Jones Industrial Average was up 125 points, or 0.3%, as of 12:46 p.m. Eastern time, and the Nasdaq composite was down 1.6%.

In the oil market, a barrel of Brent crude was back to $87.20, up 0.1%, after briefly leaping above $90 overnight. Iranian troops fired air defenses at a major air base and a nuclear site during an apparent Israeli drone attack, raising worries in the market. But crude prices pared their big gains as traders questioned how Iran would respond.

On Wall Street, Netflix sank 8.9% despite reporting stronger profits for the latest quarter than expected. Analysts called it a mostly solid performance, but the streaming giant disappointed some investors by saying it will stop giving updates on its subscriber numbers every three months, beginning next year. Procter & Gamble also weighed on the market after the consumer-products giant reported lower revenue for its latest quarter than analysts expected. Sales trends for its baby care products weakened following hikes to their prices and sank for its super-premium SK-II skincare brand, diluting gains made elsewhere. The company behind Pampers, Oral-B, and other brands reported stronger profit for its fiscal third quarter than analysts expected and raised its forecast for earnings in the fiscal year. But it did not raise its forecast for sales. Its stock slipped 0.4%.

Helping to limit the market’s losses was American Express, which rose 5.1%. It reported stronger profit for the latest quarter than analysts expected. Fifth Third Bancorp rose 6.1% after it likewise topped expectations.

The pressure is even higher than usual on companies to meet forecasts for their quarterly results. That’s because the other lever that helps set stock prices, interest rates, looks unlikely to offer much help in the near term. Top Fed officials said recently that they could hold interest rates at their high level for a while. That’s a letdown for traders after the Fed had signaled earlier that three cuts to interest rates could be possible this year. Lower rates would juice the economy and financial markets, and they earlier appeared to be on the horizon after inflation cooled sharply last year.


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