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Tech Futures Tumble As Alphabet Plunges, Small Caps Rise Ahead Of PCE, ECB

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Tech Futures Tumble As Alphabet Plunges, Small Caps Rise Ahead Of PCE, ECB US futures are lower, with Nasdaq contracts sliding as Alphabet's ugly search miss revived the "is AI capex paying off" debate , while Microsoft's Azure beat and lighter capex, a roughly 1% drop in oil on fresh US-Iran diplomacy chatter and news that Christine Lagarde will quit the ECB nine months early round out the morning's drivers; as a result small caps outperform while the 10Y yield hovers just around 5%. As of 7:30am ET, S&P futures are 0.3% lower at 7,768 while Nasdaq futures are down about 1% and Dow futures…

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    Tech Futures Tumble As Alphabet Plunges, Small Caps Rise Ahead Of PCE, ECB

    Tech Futures Tumble As Alphabet Plunges, Small Caps Rise Ahead Of PCE, ECB US futures are lower, with Nasdaq contracts sliding as Alphabet's ugly search miss revived the "is AI capex paying off" debate , while Microsoft's Azure beat and lighter capex, a roughly 1% drop in oil...

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