Nasdaq futures indicated a downward trend on Thursday, as market participants analyzed the quarterly performance of Google parent Alphabet and anticipated earnings from another member of the Magnificent Seven tech giants, Amazon. Meanwhile, bitcoin fell beneath $70,000, and silver declined. Futures for the Nasdaq 100, S&P 500, and Dow Jones Industrial Average experienced declines of 0.8%, 0.5%, and 0.3%, respectively. Yesterday, technology shares drove the tech-heavy Nasdaq and benchmark S&P 500 down for a second consecutive session, with Advanced Micro Devices experiencing a significant decline of 17%. In contrast, the blue-chip Dow Jones Industrial Average closed in positive territory. Shares of Alphabet fell nearly 3% in premarket trading Thursday, a day after the Google parent posted better-than-expected fourth-quarter results but indicated that its 2026 capex would be between $175 billion and $185 billion, roughly double its 2025 level. There has been growing concern among investors regarding the AI expenditure of companies in recent months.
Qualcomm stock sank 11% before the bell after its current-quarter forecasts fell short of analysts’ estimates, which executives attributed to the global memory shortage. In other post-earnings movements, shares of Snap surged 4%, Estee Lauder fell 14%, Peloton Interactive decreased by 9%, Arm Holdings dropped 6.5%, and Shell experienced a decline of 2%. Investors are keenly awaiting the results from Amazon, which will be released after the market closes today, as its shares experienced a slight decline prior to the opening bell. Fellow Mag 7 stocks Tesla and Nvidia, which fell a respective 3.8% and 3.4% yesterday, rebounded modestly before the bell.
Bitcoin has experienced a decline, dropping beneath $70,000—marking its lowest point since Donald Trump secured re-election as U.S. president on Nov. 5, 2024, and is currently trading near $69,300. Shares of bitcoin treasury firm Strategy sank 6% ahead of its earnings after markets close today. Silver futures, which peaked at approximately $121.75 an ounce last Thursday, experienced a decline of 9%, settling around $77. Gold futures, having experienced a rise to approximately $5,625 an ounce last week, have now declined by over 1% to $4,880.
The yield on the 10-year Treasury, which influences interest rates on various consumer loans such as mortgages, decreased to below 4.27% from Wednesday’s closing figure of 4.28%. West Texas Intermediate crude futures, the U.S. benchmark, decreased by 1.7% to $64 a barrel. The U.S. dollar index, which monitors the value of the greenback relative to a selection of global currencies, increased by 0.2% to 97.79.