U.S. equity futures fell on Thursday, as oil prices surged amid escalating conflict in the Middle East, while investors weighed quarterly results from two of the largest companies in the world.
Futures for the Dow Jones Industrials fell 364 points, or 0.7%, to 52,085
Futures for the S&P 500 gave back 46 points, or 0.6%, to 7,494.25
Futures for the NASDAQ Composite tumbled 254.75 points, or 0.9%, to 28,926.56
Alphabet shares slid more than 5% to reach their low of the session after the Google parent lifted its forecast for 2026 capital expenditures to as high as $205 billion, pointing to strong artificial intelligence demand. The increase comes as investors have grown more cautious in recent months about hyperscalers’ spending around the AI effort.
Tesla tumbled more than 7%, also hitting its session low, after the electric vehicle maker posted a big earnings miss for the second quarter. The company’s operating expenses also rose faster than revenue during the period.
Oil prices put more pressure on stocks, as they soared after Yemen’s Tehran-backed Houthi militant group claimed attacks on two Saudi Arabian tankers in the Red Sea, fueling concerns about an expansion of the conflict in the Middle East. Prices also moved higher after U.S. President Donald Trump threatened to bomb Iranian infrastructure.
In Japan, the Nikkei 225 gathered 0.5%, while in Hong Kong, the Hang Seng jumped 1.3%.
Oil prices bounced $3.96 to $90.73 U.S. a barrel.
Gold prices stumbled $64.20 to $4,087.70 U.S an ounce.
