TLDR
- Nasdaq 100 futures fell about 2% and S&P 500 futures dropped roughly 1% on Friday.
- Amazon shares fell between 6.5% and 7% in premarket trading after weak retail results.
- Intel stock dropped about 25% to 26% after soft sales and a short outlook.
- Alphabet kept sliding after losing about $497 billion in market value on Thursday.
- Brent crude rose to $112 per barrel and WTI reached $103.
US stock futures fell on Friday, the last trading day of October. Earnings reports from Amazon, Alphabet and Intel led investors to sell technology shares.
Nasdaq 100 futures dropped about 2% in early trading. S&P 500 futures slid roughly 1%, while Dow Jones Industrial Average futures held close to flat.
Stocks fell for a second day in a row. Amazon and Alphabet both posted rare earnings misses this week, which renewed concerns about how much Big Tech is spending on artificial intelligence.
Amazon and Intel Lead the Declines
Amazon shares fell between 6.5% and 7% in premarket trading. The company reported disappointing third-quarter results from its online retail business.
BREAKING: Amazon stock, $AMZN, collapses over -12% after reporting weaker than expected Q3 earnings.
The stock has now erased -$315 billion worth of market cap in after hours trading. pic.twitter.com/PktjkI1Gbx
— The Kobeissi Letter (@KobeissiLetter) October 29, 2026
Amazon Web Services, its cloud unit, posted solid numbers. Those figures did not offset the weaker retail results.
Intel stock dropped about 25% to 26% before the open. The chip maker reported soft third-quarter sales and gave a fourth-quarter outlook that came in short of expectations.
Intel’s PC segment weighed on its overall results. Revenue tied to artificial intelligence still rose sharply during the quarter.
The two reports added to pressure on technology shares. Concerns about Big Tech spending on AI have returned to the center of investor attention.
Alphabet Extends Its Losses
Alphabet, the parent company of Google, kept losing value on Friday. Its stock had its worst day in more than 20 years on Thursday.
The company lost about $497 billion in market value that day. Fast growth in AI and cloud services did not make up for weaker results in its services business.
Reports noted that AI demand remains strong. Even so, investors have sold shares of companies with weaker results this earnings season.
Market data showed S&P 500 futures down 82.25 points, or 1.06%, at 7,672. Nasdaq 100 futures fell 691.25 points to 28,870.75.
Dow futures were down 23 points, or 0.04%, at 52,489. Some early reports had shown the index slightly higher.
Oil prices also moved higher on Friday. Brent crude futures rose to $112 per barrel, and WTI crude reached $103 per barrel.
Earnings continue before the open on Friday. ExxonMobil, Chevron, AbbVie and AstraZeneca are all scheduled to report results.
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