US stocks took sizable hits again on Thursday in a fruitless search for a reprieve from a building tech sell-off as investors awaited Amazon earnings, assessed Alphabet's big AI spending plans, and digested jobs data that signaled fresh weakness in the labor market. The S&P 500 (^GSPC) moved roughly 1.2% lower, while the Nasdaq Composite (^IXIC) shed 1.5%. The Dow Jones Industrial Average (^DJI) lost over 1.1%, or more than 500 points. The market is in the midst of a full-on tech wipeout, as investors w ...

US stocks turned lower on Thursday in a fruitless search for a reprieve from a building tech sell-off as investors awaited Amazon earnings, assessed Alphabet's big AI spending plans, and digested jobs data that signaled fresh weakness in the labor market. The S&P 500 (^GSPC) moved roughly 1.2% lower, while the Nasdaq Composite (^IXIC) shed 1.5%. The Dow Jones Industrial Average (^DJI) lost over 1%, or more than 500 points. The market is in the midst of a trillion-dollar tech wipeout, as investors weigh ...

US stocks turned lower on Thursday in an apparently fruitless search for a reprieve from a building tech sell-off as investors awaited Amazon earnings, assessed Alphabet's big AI spending plans, and digested jobs data that signaled fresh weakness in the labor market. The S&P 500 (^GSPC) moved roughly 0.9% lower, while the Nasdaq Composite (^IXIC) shed 1.3%. The Dow Jones Industrial Average (^DJI), which includes fewer tech names, edged about 0.5% lower. The market is in the midst of a trillion-dollar te ...

Market Overview - US stock futures declined as investors reacted to a two-day tech sell-off, with S&P 500 futures down approximately 0.6% and Nasdaq 100 futures down about 0.9% [1] - The market is experiencing a significant tech wipeout, with concerns about AI disruption affecting software stocks [2] Corporate Earnings and Forecasts - Alphabet announced a substantial increase in AI investment, projecting capital expenditures of up to $185 billion, which negatively impacted its stock [3] - Amazon's quarterly report is anticipated, with expectations of a 21% increase in sales from its AWS cloud unit [3] - Qualcomm reported a 5% year-over-year revenue increase to $12.3 billion and earnings per share of $2.78, but its outlook for the second quarter is weaker due to a memory chip shortage [28][29] - Nio expects to report its first-ever profit in Q4, projecting an adjusted profit from operations between 200 million yuan (approximately $29 million) and 700 million yuan (approximately $100 million) [6][7] Stock Movements - Estée Lauder shares fell 10% despite beating earnings estimates due to tariff concerns [8] - Snap's stock rose 6% after reporting Q4 revenue of $1.71 billion, exceeding Wall Street estimates [13] - E.l.f. Beauty's stock increased by as much as 8% after raising its full-year sales outlook to between $1.6 billion and $1.61 billion [16][17] - Baidu's US-listed shares rose 5% following the announcement of a dividend and a $5 billion stock buyback program [10] Commodities and Cryptocurrencies - Silver prices plunged by as much as 17%, erasing previous gains, as market sentiment turned negative [4][24] - Bitcoin fell below $70,000 after Treasury Secretary Scott Bessent ruled out a government bailout for cryptocurrencies [5][12] Industry Trends - Broadcom's stock rose 5% following Alphabet's announcement of increased capital expenditures, which is expected to benefit companies involved in AI infrastructure [21][22] - The overall sentiment in the market appears to be dampened, affecting various asset classes including precious metals and equities [25]

US stock futures turned lower on Thursday in an apparently fruitless search for a reprieve from a two-day tech sell-off as investors waited for Amazon earnings and assessed Alphabet's big AI spending plans and jobs data that signaled fresh weakness in the labor market. S&P 500 futures (ES=F) moved roughly 0.6% lower, while those on the Nasdaq 100 (NQ=F) shed 0.8%. Contracts on the Dow Jones Industrial Average futures (YM=F), which includes fewer tech names, edged about 0.3% lower. The market is in the m ...

Market Overview - US stock futures showed stability after a two-day tech sell-off, with S&P 500 futures up 0.1% and Nasdaq 100 futures up 0.3% as investors awaited Amazon's earnings and assessed Alphabet's AI spending plans [1][3] - The tech sector experienced a significant decline, with nearly $1 trillion wiped off the value of software stocks tracked in an iShares ETF over the past week [2][7] Company Earnings and Forecasts - Alphabet announced a substantial increase in AI investment, projecting up to $185 billion, which led to a decline in its shares [3] - Amazon's AWS cloud unit is expected to report a 21% increase in sales in its upcoming quarterly report [3] - Snap reported a strong fourth quarter with revenue of $1.71 billion, exceeding Wall Street estimates of $1.7 billion, and earnings per share of $0.03 [12][16] - E.l.f. Beauty raised its full-year 2026 sales outlook to between $1.6 billion and $1.61 billion, up from a previous range of $1.55 billion to $1.57 billion, and reported a 38% increase in net sales to $489.5 million [14][16] - Qualcomm's stock fell around 11% after reporting a revenue increase of 5% year over year to $12.3 billion, but provided a dim outlook for the second quarter due to a memory chip shortage [26][28] Market Sentiment and Trends - The recent tech sell-off was driven by concerns over AI potentially disrupting existing business models, rather than fears of a bubble [8][9] - Silver prices plunged by as much as 17%, erasing previous gains, as market sentiment turned negative across various asset classes [4][22] - Bitcoin fell significantly after Treasury Secretary Scott Bessent ruled out a government bailout for the cryptocurrency, with prices nearing the critical $70,000 level [5][11] Capital Expenditure and Partnerships - Alphabet's forecast for capital expenditures in 2026 reached $180 billion, positively impacting partners like Broadcom, which saw its stock rise by 5% [20][21] - Oracle also increased its capital expenditure forecast to around $50 billion, indicating a broader trend among tech companies investing heavily in AI infrastructure [21]