The S&P 500 Index ($SPX) (SPY) today is down -0.80%, the Dow Jones Industrial Average ($DOWI) (DIA) is down -0.66%, and the Nasdaq 100 Index ($IUXX) (QQQ) is down -1.20%. September E-mini S&P futures (ESU26) are down -0.77%, and September E-mini Nasdaq futures (NQU26) are down -1.10%.
Stock indexes are trading lower today amid a double whammy of higher oil prices and a decline of more than -5% in Alphabet following its earnings report after Wednesday's close. Alphabet raised its capital spending forecast for this year to $205 billion from $190 billion, spending more than double its 2025 capital spending and raising concern that the company will struggle to earn a sufficient return on its outsized AI investment. Tesla is down more than -10% today after its earnings report late Wednesday also showed a surge in capital spending.
