Stock market today: Dow, S&P 500, Nasdaq futures slip as markets weigh AI capex, widening Mideast attacks

US stock futures slipped on Thursday as investors weighed Alphabet and Tesla's capital expenditure outlooks for AI and widening Middle East attacks that pushed oil prices higher. Dow and S&P 500 futures fell about 0.4%, while Nasdaq-100 futures dropped 0.5%, with Alphabet and Tesla shares under pressure after the companies reported results and signaled increased AI-related spending. Brent crude rose to $97 per barrel and West Texas Intermediate hit $89 per barrel after Houthi attacks on Red Sea tankers, while Treasury yields climbed to their highest since May on inflation concerns.

Stock market today: Dow, S&P 500, Nasdaq futures slip as markets weigh AI capex, widening Mideast attacks US stock futures stepped lower on Thursday as investors digested the latest spending outlooks from Alphabet GOOG https://finance.yahoo.com/quote/GOOG/ and Tesla TSLA https://finance.yahoo.com/quote/TSLA/ , and eyed surging oil prices in the wake of expanded attacks in the Middle East. Futures on the Dow Jones Industrial Average YM=F https://finance.yahoo.com/quote/YM=F/ and on the S&P 500 ES=F https://finance.yahoo.com/quote/ES=F/ both fell around 0.4%. Contracts for the tech-heavy Nasdaq-100 NQ=F https://finance.yahoo.com/quote/NQ=F/ dropped 0.5%, after Wall Street stocks retreated on Wednesday amid a flurry of earnings reports. https://finance.yahoo.com/markets/live/stock-market-today-wednesday-july-22-dow-sp-500-nasdaq-alphabet-tesla-earnings-083644887.html Big Tech stocks were under pressure on Thursday morning, led by declines in shares of Alphabet and Tesla after the two "Magnificent Seven" heavyweights reported results after Wednesday's market close. Alphabet posted a strong quarter https://finance.yahoo.com/technology/article/google-q2-earnings-top-expectations-cloud-revenue-grows-82-but-stock-falls-on-capex-growth-202407124.html fundamentally, but the Google parent's raised capex outlook comes as investors scrutinize AI's return on investment. Tesla CEO Elon Musk also said 2026 would be a "massive capex year" https://finance.yahoo.com/markets/stocks/article/tesla-reports-q2-earnings-miss-but-beats-on-revenue-cap-ex-spending-seen-at-25-billion-for-the-year-110300122.html for the company, highlighting a focus on Optimus robots, robotaxis, and data centers. The latest escalation in the Middle East, meanwhile, shows no signs of relenting, and oil prices continued to climb on Thursday. Brent crude BZ=F https://finance.yahoo.com/quote/BZ=F/ oil futures, the international benchmark, jumped to $97 per barrel, closing in on crossing the key $100 level. West Texas Intermediate futures CL=F https://finance.yahoo.com/quote/CL=F/ , the US benchmark, rose to $89 per barrel after Iran-backed Houthis said they had attacked tankers in the Red Sea. As the US-Iran war has widened, rising oil prices spurred a sell-off in bonds https://finance.yahoo.com/markets/article/bond-yields-rise-as-elevated-oil-prices-reignite-threat-of-renewed-pressure-on-inflation-162442976.html , sending the 10-year ^TNX https://finance.yahoo.com/quote/^TNX/ and 30-year Treasury yields ^TYX https://finance.yahoo.com/quote/^TYX/ to their highest levels since May amid renewed inflation concerns. The latest pressure from oil has pushed back against easing bets that the Federal Reserve would hike interest rates this year. Investors are expecting an update on initial jobless claims at 8:30 a.m. ET and a raft of earnings, including from Intel INTC https://finance.yahoo.com/quote/INTC/ , T-Mobile US TMUS https://urldefense.com/v3/ https://e.newsletters.yahoo.net/click?PULBaHxiqjjaIdwlk6yBJNZijggKi1if4-C6BUw4jeda7854c ; Op6eflyXZCqGR5I HGA2NZI0I5aB6eR2tKQe1GjvDWb-IbaDG0uMLZaBj0YMgP-heT5CBg1O7 A3vMfN0UvbZdjxhuSzIFOSK3NLM G5lk5FBur9xa1Lj4wClA$ , Lockheed Martin LMT https://urldefense.com/v3/ https://e.newsletters.yahoo.net/click?PULBaHxiqjjaIdwlk6yBJNYWPg46Boq2rQgBgyg5s2a45e619 ; Op6eflyXZCqGR5I HGA2NZI0I5aB6eR2tKQe1GjvDWb-IbaDG0uMLZaBj0YMgP-heT5CBg1O7 A3vMfN0UvbZdjxhuSzIFOSK3NLM G5lk5FBur9xa1sBj5KkQ$ , and others.