Nasdaq-100 Futures Decline Following Weak Earnings from Amazon and Intel
Nasdaq-100 futures fell 1.5% in evening trading following disappointing quarterly results from major technology players Amazon and Intel. Amazon shares dropped 5% in extended trading after missing Wall Street expectations for revenue and earnings, while also reporting a significant negative free cash flow of $42.4 billion. Intel experienced a sharper decline, with shares sliding 20% due to a weak quarterly outlook driven by a slowdown in the PC market. These developments come amid heightened investor scrutiny regarding the profitability and massive capital expenditures required for the ongoing artificial intelligence build-out, which has already pressured other tech giants like Alphabet.
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Topics: AI Trade Earnings Miss Futures Stock Market Decline Tech Sector