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Stock futures slip as Alphabet earnings approach and tensions with Iran loom
Nasdaq-100 futures fell 0.6% and investors are watching whether Alphabet's AI spending is starting to generate returns after it signaled heavy capex ahead.
US stock index futures edged lower on Wednesday, with Nasdaq-100 futures down 0.6%, S&P 500 futures off 0.3%, and Dow Jones Industrial Average futures down 31 points, as markets looked to the next round of Big Tech earnings.
LiveMint Markets said sentiment stayed fragile amid ongoing US-Iran tensions, including reports of fresh US strikes on Iran and missile and drone attacks by Iran that targeted Bahrain, Jordan, and Kuwait.
The outlet also noted that hostilities have extended into the 11th consecutive day, with the US reportedly intensifying efforts related to the Strait of Hormuz and global energy markets remaining on edge.
Ahead of Alphabet's June quarter results later on Wednesday, investors are expected to focus on whether AI investment is beginning to pay off, particularly after Alphabet previously indicated it plans to more than double capital expenditure from 2025 to as much as $190 billion this year, according to LiveMint Markets.
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