Wire flash
FinanceUS stock futures slip as Alphabet, Tesla AI capex concerns and Middle East attacks weigh
Editorial responsibility
- No named human review is recorded for this page.
- Source reporting is collected, normalized, translated or condensed automatically when needed.
- Automatically published source-backed update
US stock futures declined on Thursday, July 23, 2026, as investors weighed increased capital expenditure plans from Alphabet and Tesla amid AI investment scrutiny, and rising oil prices due to expanded Middle East attacks. Dow and S&P 500 futures fell about 0.3%, while Nasdaq-100 futures dropped 0.4%. Alphabet posted strong quarterly results but its raised capex outlook raised concerns about AI returns. Tesla CEO Elon Musk announced a 'massive capex year' focused on robots and data centers. Oil prices surged, with Brent crude nearing $100 per barrel after Iran-backed Houthis attacked tankers in the Red Sea. Rising oil prices triggered a bond sell-off, pushing 10-year and 30-year Treasury yields to their highest since May, and dampening expectations of Federal Reserve rate hikes. Investors awaited jobless claims data and earnings from Intel, T-Mobile, and Lockheed Martin.
Source report
Updated: 32 minutes ago
US stock futures moved lower on Thursday as investors digested the latest spending outlooks from Alphabet (GOOG) and Tesla (TSLA), while eyeing surging oil prices following expanded attacks in the Middle East.
- Dow Jones Industrial Average futures (YM=F): Down ~0.3%
- S&P 500 futures (ES=F): Down ~0.3%
- Nasdaq-100 futures (NQ=F): Down 0.4%
The declines follow a retreat on Wall Street on Wednesday amid a flurry of earnings reports.
Big Tech Under Pressure
Major technology stocks faced headwinds on Thursday morning, led by declines in Alphabet and Tesla after the two "Magnificent Seven" heavyweights reported results after Wednesday's market close.
- Alphabet posted a strong quarter fundamentally, but the Google parent's raised capital expenditure outlook comes as investors scrutinize AI's return on investment.
- Tesla CEO Elon Musk stated that 2026 would be a "massive capex year" for the company, highlighting a focus on Optimus robots, robotaxis, and data centers.
Middle East Escalation and Oil Prices
The latest escalation in the Middle East shows no signs of relenting, and oil prices continued to climb on Thursday.
- Brent crude (BZ=F) futures jumped to $97 per barrel, closing in on the key $100 level.
- West Texas Intermediate (CL=F) futures rose to $89 per barrel after Iran-backed Houthis said they had attacked tankers in the Red Sea.
As the US-Iran war has widened, rising oil prices spurred a sell-off in bonds, sending the 10-year (^TNX) and 30-year Treasury yields (^TYX) to their highest levels since May amid renewed inflation concerns. The latest pressure from oil has pushed back against easing bets that the Federal Reserve would hike interest rates this year.
Key Events Ahead
Investors are expecting:
- Initial jobless claims data at 8:30 a.m. ET
- A raft of earnings reports, including from:
- Intel (INTC)
- T-Mobile US (TMUS)
- Lockheed Martin (LMT)
- And others
Source
Yahoo FinanceWestern
Part of this Story
US-Iran Tensions Spike Oil Prices as Markets Await CPI Data