FX.co ★ US Futures Lower, Alphabet Sinks

US stock futures declined on Thursday, with S&P 500 futures down 0.4%, Nasdaq 100 futures off 1.1%, and Dow Jones futures lower by about 150 points. Sentiment was pressured by renewed doubts over the durability of the AI-driven rally after several major cloud providers delivered earnings that fell short of market hopes. Alphabet slumped more than 11% in premarket trading after missing both earnings and revenue estimates. Amazon and Intel, which are set to report after the closing bell, slipped 2.2% and 3.5%, respectively. Caterpillar dropped more than 10% after projecting only “moderate” sales growth for the fourth quarter. By contrast, Microsoft gained 1.3% on the back of robust cloud revenue. Eli Lilly rose 4.7% after raising its revenue outlook on strong demand for its weight-loss drugs, while Merck advanced 2.4% following an increase in its guidance.