United States equity futures moved mostly higher on Wednesday night (Thursday AEDT) as investors assessed a fresh round of corporate earnings, including results from Alphabet, following a sharp sell-off in technology shares that had weighed on the broader market.
By 11 am AEDT (12 am GMT) Dow futures were flat, while futures linked to the S&P 500 rose 0.2%, and Nasdaq 100 futures gained 0.3%.
Alphabet shares slipped 1.2% in extended trading despite the Google parent reporting fourth-quarter earnings and revenue that exceeded expectations. Key metrics watched by investors, including Google Cloud revenue and traffic acquisition costs, also came in ahead of forecasts. The company said it anticipates a sharp increase in artificial intelligence spending in 2026.
The company’s capital expenditure plans also drew attention. Alphabet expects to spend as much as $185 billion on capital investments this year as it accelerates the build-out of AI-focused data centres. That outlook lifted other semiconductor-related names, with Broadcom rising around 6.4% and Nvidia gaining 1.7% in after-hours trading.
Qualcomm shares fell 9.2% after the chipmaker issued a forecast that was hurt by a global memory shortage.
In the consumer and healthcare segments, several companies posted strong moves following earnings. Boot Barn, the U.S. retailer specialising in Western apparel, climbed 3.8% after raising its full-year earnings guidance to between $7.25 and $7.35 per share, up from a prior range of $6.75 to $7.15.
Align Technology, maker of Invisalign dental products, jumped more than 12.4% after reporting fourth-quarter results that topped expectations on both profit and revenue.
E.l.f. Beauty rose 1% after lifting its full-year guidance. The company projected adjusted earnings of $3.05 to $3.10 per share, ahead of market expectations of $2.87. Fiscal third-quarter results also beat forecasts, with adjusted earnings of $1.24 per share surpassing the 72 cents expected, while revenue of $490 million exceeded the $460 million consensus.
Social media group Snap gained 2.2% after fourth-quarter revenue came in above expectations. The company reported revenue of $1.72 billion, ahead of the $1.7 billion forecast, and earnings of 3 cents per share.
Wall Street had closed mixed in the prior session. The S&P 500 and Nasdaq Composite fell 0.5% and 1.5%, respectively, as a technology rout intensified, while the Dow Jones Industrial Average rose 260 points, or 0.5%, supported by rotation into more value-oriented stocks.
Software shares were particularly hard hit as concerns about AI-driven disruption in the sector prompted investors to reduce exposure to high-growth technology names in favour of other parts of the market.
By the end of the session, however, some market participants argued that the sell-off may have been overdone and presented a potential buying opportunity.
Looking ahead, earnings season continues with Tapestry and Peloton Interactive due to report before Thursday’s open, while investors will also focus on Amazon’s results after the close.
On the economic calendar, weekly jobless claims data due Thursday morning will offer a further update on labour market conditions.
