US stock futures fell early Friday as Amazon’s (AMZN) post-earnings slide weighed heavily on tech sentiment and investors braced for further wreckage after a bruising session on Wall Street.
S&P 500 futures (ES=F) dropped 0.2%, while Nasdaq 100 futures (NQ=F) slid roughly 0.5%. Contracts tied to the Dow Jones Industrial Average (YM=F) nudged down 0.1%.
Stocks are set to add to the recent sharp sell-off, led once again by technology stocks. The S&P 500 (^GSPC) and Nasdaq Composite (^IXIC) have now slipped into negative territory for 2026.
Reaction to Amazon’s (AMZN) earnings added to the gloom. Shares plunged over 10% after the major cloud provider’s operating income forecast fell short, even as it outlined a massive jump in spending for 2026, to at least $200 billion. The stock was punished as Wall Street weighs AI spend against growth outlooks, and concerns about the impact of AI on legacy tech emerge.
Elsewhere in earnings, Strategy (MSTR) revealed a loss for the quarter that was precipitated by bitcoin’s sell-off, sending shares lower. Bitcoin (BTC-USD) continued sliding, touching levels not seen since 2024. Earnings also drove Reddit (RDDT) upward after reporting a quarterly earnings beat, issuing upbeat guidance, and announcing a stock buyback program. Roblox (RBLX) shares also surged.
Looking ahead, investors will focus on earnings from Toyota (TM) and Philip Morris (PM), due before Friday’s opening bell.
The risk-off tone extended beyond stocks. Silver (SI=F) resumed its decline after a recent surge fueled by retail investor interest.
Meanwhile, the closely watched nonfarm payrolls report, originally scheduled for Friday, has been pushed to Wednesday next week following the resolution of the federal government shutdown. But other data this week has shown fresh signs of trouble for the labor market, as job openings sank to their lowest level since 2020 and layoff announcements surged.
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