Stock futures edged higher Thursday, as investors digested quarterly results from Google parent Alphabet and awaited earnings from fellow Magnificent Seven tech giant Amazon. Meanwhile, bitcoin briefly slipped below $70,000 and silver sank.
Nasdaq 100, S&P 500, and Dow Jones Industrial Average futures were 0.1% higher. Yesterday, technology shares led the tech-heavy Nasdaq and benchmark S&P 500 lower for a second straight session as Advanced Micro Devices (AMD) dropped 17%, while the blue-chip Dow Jones Industrial Average ended higher.
Shares of Alphabet (GOOGL) fell nearly 3% in premarket trading Thursday, a day after the Google parent posted better-than-expected fourth-quarter results but said its 2026 capex would be between $175 billion and $185 billion, roughly double its 2025 level. Investors have been concerned about companies’ AI spending in recent months.
Qualcomm (QCOM) stock sank 12% before the bell after its current-quarter forecasts came up short of analysts’ estimates, which executives attributed to the global memory shortage.
In other post-earnings moves, shares of Snap (SNAP) jumped 6%, Arm Holdings (ARM) sank 7.5%, Estee Lauder (EL) fell 2%, and Shell (SHEL) declined 1.5%.
Investors are eagerly anticipating results after the close today from Amazon (AMZN), whose shares ticked higher before the bell. Fellow Mag 7 stocks Tesla (TSLA) and Nvidia (NVDA), which fell a respective 3.8% and 3.4% yesterday, rebounded 0.3% and 2% before the bell.
Bitcoin continued its descent, briefly falling below $70,000—its lowest level since Donald Trump was re-elected U.S. president on Nov. 5, 2024. Shares of bitcoin treasury firm Strategy (MSTR) sank 4% ahead of its earnings after markets close today.
Silver futures, which had reached as high as about $121.75 an ounce last Thursday, sank 7.5% to about $78. Gold futures, which had surged to roughly $5,625 a week ago, slipped more than 1% to $4,885 an ounce.
The yield on the 10-year Treasury—which impacts interest rates on a variety of consumer loans including mortgages—was little changed from Wednesday’s close of 4.28%. West Texas Intermediate crude futures, the U.S. benchmark, fell 1.3% to $64.25 a barrel.
The U.S. dollar index, which tracks the value of the greenback against a basket of global currencies, rose 0.3% to 97.86.