US Stock Futures Decline as Amazon Disappoints with AI Outlook
US stock futures edged lower as Amazon (AMZN) joined Google (GOOG) and other AI-focused tech giants in underperforming earnings projections.
* Dow Jones Industrial Average futures (YM=F) opened flat.
* S&P 500 (ES=F) futures declined 0.1%.
* Nasdaq (NQ=F) futures dipped 0.05%.
Artificial intelligence (AI) has dominated earnings season following concerns over soaring development costs at companies like Meta (META) and Microsoft (MSFT). Amazon's earnings report added to these concerns, sending its shares down 4% after the bell Thursday.
While tech giants struggle, AI has opened opportunities for others. Palantir's (PLTR) military analytics business surged 10% Thursday, while Pinterest (PINS) boosted ad sales through AI, resulting in a 19% jump in after-hours trading.
Unpredictable trade news from President Donald Trump has led investors to seek safety in gold (GC=F), which reached all-time highs before receding Thursday.
Trump's focus on hedge funds, with plans to close a loophole allowing managers to pay capital gains tax instead of income tax, may have also contributed to market volatility.
The January jobs report, scheduled for release Friday morning, is expected to provide insights into the US economy's health.