Wall Street Set for Lower Open as Alphabet Slump Weighs on Tech Sector

U.S. stock futures pointed lower Thursday, with S&P 500 futures down 0.5% and Nasdaq 100 futures sliding 1.3%, as renewed concerns over AI spending dragged on technology shares following weak quarterly results from Alphabet (GOOGL). Alphabet plunged 11.1% in pre-market trading after reporting weaker-than-expected third-quarter revenue and negative free cash flow. Caterpillar (CAT) also fell 11.7% pre-market despite exceeding earnings and revenue estimates. Microsoft (MSFT) bucked the trend, rising 2% after fiscal first-quarter results beat analyst expectations. The negative futures held after a Commerce Department report showed U.S. consumer prices rose in line with estimates for September, while separate data showed third-quarter 2026 economic growth exceeded forecasts. On Wednesday, the Dow edged up 0.2% to 52,475.10, the S&P 500 rose 0.3% to 7,743.98 and the Nasdaq added 0.3% to 26,549.85. Crude oil fell $1.18 to $101.60 a barrel, and gold dropped $14.40 to $4,037.20 an ounce.