U.S. equity futures moved lower ahead of Thursday’s session as investors digested increased capital expenditure plans from leading technology firms, Alphabet and Tesla, while continued unrest in the Middle East prompted a spike in oil prices. The market’s reaction reflects heightened caution among investors, with attention shifting toward upcoming earnings and economic data.
At 5:21 p.m. (Bangkok Time), Dow Jones Industrial Average futures dropped 0.46%, while contracts tied to the S&P 500 and Nasdaq 100 slipped by 0.40% and 0.47%, respectively. This followed marginal losses in Wednesday’s regular session, where the Dow ended almost flat, the S&P 500 eased by 0.14%, and the Nasdaq Composite fell by 0.57%.
Technology shares faced renewed pressure on Thursday morning, particularly after post-market earnings reports from Alphabet and Tesla. Alphabet’s stock retreated 3.9% in premarket activity following the company’s upward revision of its 2026 capital expenditure outlook to as much as $205 billion, signaling continued investment in artificial intelligence. Recent months have seen investors scrutinize spending strategies among major technology platforms amid the AI investment cycle.
At the same time, Tesla CEO Elon Musk projected that 2026 would represent a significant year of capital investment for the automaker, with spending directed at robotics projects, autonomous taxis, and data infrastructure.
Geopolitical concerns added to market unease as instability in the Middle East persisted. On Thursday, contracts linked to Brent crude surged to $98.03 per barrel, nearing the psychologically important $100 threshold. U.S. benchmark West Texas Intermediate futures also increased, reaching $89.88 per barrel after reported attacks in the Red Sea by forces backed by Iran.
Climbing oil prices contributed to downward pressure on U.S. government bonds, with yields on the 10-year and 30-year Treasury securities reaching their highest levels since May, amid renewed inflation concerns. The prospect of extended inflationary pressures has complicated expectations for interest rate decisions by the Federal Reserve this year.
Investors are preparing for another round of corporate earnings reports on Thursday, with companies such as Dow, American Airlines, T-Mobile, Union Pacific, and Norfolk Southern reporting before the market opens. Intel is scheduled to release quarterly results after the close. The latest reading on weekly jobless claims is also due in the morning.
