Nasdaq Futures Movement Overview
Nasdaq 100 futures fell 2% to 28,975.0 points as of 08:47 UTC+8 on 30 October 2026, extending Thursday’s tech losses after earnings from Amazon and Intel missed market estimates. S&P 500 futures also declined, while Dow Jones futures were little changed.
Key Driver Behind The Move
Amazon shares fell 6.7% in after-market trading after the company missed both revenue and profit estimates for the September quarter. Heavy spending on artificial intelligence also pushed its free cash flow further into negative territory.
Intel shares slumped nearly 23% after hours. A strong third-quarter profit was outweighed by a disappointing forecast for the fourth quarter, and third-quarter revenue also missed estimates. Intel’s server chips are gaining from AI demand, but its PC business is squeezed by rising AI-linked costs and softer consumer spending.
Market Data And Reaction
The Nasdaq Composite fell 1.4% on Thursday, pressured by a steep fall in Alphabet after disappointing earnings that showed margins deteriorating from AI-related spending. The Dow Jones Industrial Average fell the least among the major indexes as investors rotated into defensive sectors such as health care and utilities.
In Asian trade on Friday, chipmaker shares slumped, Treasury yields fell sharply and investors scaled back some expectations of US rate hikes.
Broader Market Implications
The results deepened worries that AI spending has run ahead of the returns it is generating. Chris Weston, an analyst at Pepperstone, said the market is increasingly questioning whether shareholders will earn an adequate return on the capital being deployed, rather than whether the AI buildout can be financed.
Earlier results from Samsung Electronics also underwhelmed. Stronger-than-expected US third-quarter GDP and PCE inflation data had reinforced bets on a December Fed rate hike. Investors read Warsh’s comments earlier this week as a sign the Fed is likely to tighten further.
What Equity Traders Should Watch
- How Nasdaq stocks trade at the US open on Friday 30 October 2026, at 21:30 UTC+8, after the after-hours losses in Amazon and Intel.
- Whether concerns about AI spending continue to weigh on large technology stocks following the Alphabet, Amazon and Intel results.
- Moves in Treasury yields and Fed rate hike expectations ahead of the Fed’s December meeting.
