U.S. stock futures were uneven Friday, with technology stocks under pressure after Amazon and Alphabet results intensified investor scrutiny of artificial intelligence-related spending. The pullback weighed most heavily on Nasdaq-100 contracts, while Dow futures edged higher.
At 4:18 p.m. (Bangkok Time), Nasdaq-100 futures dropped 2.01% as selling in large technology names continued. S&P 500 futures declined 0.86%, while Dow Jones futures gained 0.16%.
The moves came at the end of a volatile October for AI-linked shares. Investors have been focused on whether major cloud and technology companies can justify heavy infrastructure investment tied to artificial intelligence. Alphabet and Microsoft have not raised their capital spending projections.
Amazon fell more than 6% in after-hours trading after third-quarter earnings and revenue missed Wall Street estimates. The company also reported negative free cash flow of $42.4 billion and kept its 2026 capital expenditure forecast at $220 billion.
Intel shares sank 25% after the chipmaker delivered a subdued forecast for the current quarter, citing weaker demand in personal computers. Revenue from its client computing and physical AI unit fell 5% from a year earlier to $8.1 billion.
Sandisk declined 4% in extended trading despite fiscal first-quarter results that topped expectations. The data storage company also announced an eight-for-one forward stock split.
Outside equities, energy prices moved higher on Friday, adding another source of pressure for markets. Brent crude futures climbed 1.14% to $116.50 a barrel, while West Texas Intermediate crude reached $103.45.
Earnings remain in focus Friday, with ExxonMobil, Chevron, AbbVie and AstraZeneca scheduled to report results before the market opens.
