U.S. stock index futures traded flat in Asian hours on Thursday after Wall Street slipped in the regular session, with the technology rout deepening amid AI disruption worries, while investors digested Alphabet’s earnings and fresh labour market signals.
S&P 500 Futures were muted at 6,906.0 points, while Nasdaq 100 Futures ticked up 0.1% to 25,024.75 points by 01:22 ET (06:22 GMT). Dow Jones Futures traded 0.1% lower at 49,532.0 points.
Get exclusive Wall Street analysis, analyst forecasts with InvestingPro Tech rout deepens; Alphabet earnings in focus In regular trading, the S&P 500 and the NASDAQ Composite ended 0.5% and 1.5% lower, respectively, weighed down by renewed selling pressure in heavyweight technology and AI-linked stocks. The Dow Jones Industrial Average bucked the trend and rose about 0.5 % as investors rotated into defensive and value stocks.
Technology and AI-related stocks bore the brunt of the downturn, extending a broader sector rout that has persisted through early February. Software and services indexes fell as concerns deepened over how advances in AI might disrupt traditional business models and compress margins for established players.
Advanced Micro Devices (NASDAQ:AMD) was a major drag on sentiment, with its shares plunging about 17% after the company posted results and offered a forecast that fell short of elevated market expectations.
While AMD highlighted strong demand tied to AI, investors focused on concerns about pricing pressure and competition in data centres, triggering the stock’s steepest one-day drop in years.
Attention also centred on Alphabet (NASDAQ:GOOGL) earnings after the bell. The Google parent reported solid advertising revenue and reiterated plans for heavy investment in AI infrastructure, but investors remained cautious about the near-term impact on profitability.
Alphabet shares fell more than 1% in extended trading.
Qualcomm (NASDAQ:QCOM) shares slid nearly 10% in post-market trading after the company forecast second-quarter revenue and profit below Wall Street estimates, citing a global memory chip shortage that is expected to dampen mobile phone sales and broader device demand.
US private payrolls increased less than expected in Jan Broader market sentiment was also shaped by economic data.
Data on Wednesday showed that Private employment rose by 22,000 jobs last month, well below the 50,000 jobs gain expected, after a downwardly revised 37,000 increase in December.
A brief government shutdown means that the widely-watched monthly jobs report -- originally due on Friday -- was postponed earlier this week.
Traders are now looking ahead to weekly jobless claims data due on Thursday, which will provide another near-term read on labor market conditions before the delayed government non-farm payrolls report.
