Stock Market Today: Nasdaq Futures Fall 2.19 Percent as Amazon and Intel Tumble in Premarket Trading

Stock futures pointed sharply lower on Friday morning as the week's Big Tech earnings reckoning deepened. TradingView's report, read by this desk Friday, put Dow futures down 0.08 percent, S&P 500 futures down 1.04 percent and Nasdaq futures down 2.19 percent, with Amazon shares down 7.26 percent in premarket trading and Intel down about 25 percent in early trading.

Amazon's third-quarter report, published Thursday, was a split verdict. Revenue rose 12 percent to $201.9 billion and operating income reached $28.1 billion, but earnings of $1.89 a share missed the $1.97 analysts expected, GeekWire and TechCrunch reported. The bright spot was the cloud unit: Amazon Web Services grew 39 percent to $46 billion, its fastest pace in nearly five years, at a $184 billion annual run rate, with a backlog Jassy put at $578 billion on the earnings call, according to GeekWire.

What weighed on the stock was the cost of the AI build-out. Free cash flow was negative $42.4 billion over the trailing 12 months, TechCrunch reported, and Amazon kept its 2026 cash capital spending course at about $220 billion while guiding fourth-quarter revenue to $240 billion to $247 billion. TipRanks' closing-bell roundup put Amazon down about 7 percent after hours and Intel down about 23 percent after hours on a much weaker fourth-quarter outlook and a warning that the PC slowdown continues into the first half of 2027.

For Austin, the read-through is direct: this is a tech-employment and tech-spending story in a tech city, and Friday's regular session will show whether the premarket falls hold once all investors can trade. Premarket moves are not closing prices, and this desk reports them as the named sources reported them, no further.