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S&P 500, US78378X1072

S&P 500 Set for Lower Open as AI Spending Concerns Hit Futures

Published on 10/30/2026 at 13:16 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS
The S&P 500 is heading toward a weaker open after closing lower on October 29 as technology shares came under pressure. Amazon and Intel results added to concerns about the cost and profitability of artificial-intelligence investment, while US economic data remained ahead.

AI worries weigh before Wall Street opens

  • The S&P 500 closed at 7,720.39 on October 29, down 0.3 percent.
  • S&P 500 futures pointed about 1 percent lower before the October 30 session.
  • Amazon and Intel earnings intensified concerns about AI spending and profitability.
  • The employment cost index and Chicago PMI were scheduled economic data releases.
S&P 500, US78378X1072, Illustration mit AI erstellt.
S&P 500, US78378X1072, Illustration mit AI erstellt.

The S&P 500 is set for a weaker start to Friday's final trading session of October after technology earnings renewed concerns about artificial-intelligence spending. The index closed at 7,720.39 on Thursday, October 29, down 23.59 points, or 0.3 percent, according to the Associated Press. It was the index's first decline in four sessions.

Technology remains the main pressure point

The sell-off was concentrated in large technology companies. The Associated Press reported that Alphabet's historic decline was the main drag on the market after the Google parent reported weaker summer growth than analysts expected. The result also revived investor concerns over whether large investments in AI infrastructure will generate adequate returns.

That pressure continued in premarket trading on October 30. Investopedia reported at 7:31 a.m. EDT that futures tied to the S&P 500 were down 1 percent, while Nasdaq 100 futures were down 2.4 percent. The figures indicated a weaker opening tone, not a completed move in the cash index.

Earnings and data set the agenda

Amazon shares were down more than 6 percent in the same premarket report after investors focused on a downturn in free cash flow linked to AI investment. Intel shares were indicated about 25 percent lower after its fourth-quarter outlook fell below consensus expectations. The reactions added to the market's focus on capital expenditure, financing costs and the time required for AI-related projects to produce returns.

Friday's calendar also included the third-quarter employment cost index and October's MNI Chicago PMI. Yahoo Finance listed expectations of 0.8 percent for the employment cost index, versus 0.9 percent previously, and 54.6 for the Chicago PMI, versus 58.8 previously. Earnings from ExxonMobil, Chevron, AbbVie and other major companies were also scheduled before the close, according to Yahoo Finance.

Investors await the opening signal

With the US cash session still ahead, the futures move described the market's pre-opening positioning rather than an S&P 500 session result. The immediate test is whether technology weakness spreads beyond the largest AI beneficiaries or remains concentrated in companies facing questions about spending and cash generation. The S&P 500 topic page is available at S&P 500 coverage.

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