U.S. equity futures dipped late Wednesday as investors digest the latest round of hyperscaler earnings.
Nasdaq-100 futures lost 1.2%. S&P 500 futures declined 0.5%.
In Asia, Japan's Nikkei 225 added over 0.49% while the Topix slipped 0.16%. The Kospi declined 2.44%, while the small-cap Kosdaq fell 3.43%. Australia's benchmark S&P/ASX 200 was 0.34% higher. Hong Kong's Hang Seng index rose 0.24%, while mainland China's CSI 300 declined 0.64%.
In after-hours trading, Microsoft advanced 3% after growth in the software giant's Azure cloud infrastructure business helped it post beats on the top and bottom lines in the fiscal first quarter, per LSEG.
That contrasts sharply with Alphabet's 9% slide after adjusted earnings per share and revenue missed expectations in the third quarter, and the company posted negative free cash flow of $9.07 billion. The company kept its full-year capital expenditures forecast at $195 billion to $205 billion.
The results come at a time when the artificial intelligence trade is in focus. AI stocks, such as the iShares Semiconductor ETF (SOXX) and the Roundhill Memory ETF (DRAM), have been through a rough patch for most of October, only to perk up in recent days.
Chips helped lift the broader market to a winning regular session on Wednesday, with the S&P 500 rising for a third straight day as Micron Technology jumped almost 6% and Broadcom added more than 2%. The tech-heavy Nasdaq Composite also eked out a gain, advancing 0.3%.
Earlier Wednesday, the Federal Reserve decided to hold steady on rates, leaving the central bank's benchmark interest rate in a range between 3.75% and 4%. The decision to hold was widely expected as the Federal Open Market Committee issued a quarter-percentage-point hike in September.
This time, central bank policymakers pointed out that inflation "remains elevated," but also said that it was awaiting the "accumulation of more information" before it takes further steps.
The Fed's decision "can be interpreted as mildly dovish at the margin, but we think it is better viewed as an expression of patience rather than a shift away from a tightening bias," said Daniel Siluk, head of global short duration and liquidity at Janus Henderson Investors. "The door remains open to further tightening, but the Committee appears willing to wait for incoming data to validate the need for additional action."
Traders will get further insight into the economy on Thursday, when the Personal Consumption Expenditures price index report for September comes out. The PCE is a preferred inflation gauge for the Federal Reserve. The first reading of third-quarter GDP and weekly jobless claims are also due.
On the earnings front, all eyes will be on quarterly reports from Caterpillar and Eli Lilly in the morning, followed by Amazon and Intel after the market close.
35 Min AgoSamsung Electronics third-quarter profit in line with estimates amid rising demand for AI memory chips
South Korean tech giant Samsung Electronics on Thursday reported third-quarter operating profit that is broadly in line with analysts' expectations, as demand for advanced memory chips used in artificial intelligence applications continued to grow.
Samsung's revenue rose 126.88% year-on-year and 13.85% from the previous quarter, while operating profit rose 783.11% from a year earlier.
During the third quarter, Samsung Electronics and five of its affiliates announced a combined $1 billion investment in KKR-backed Helix Digital Infrastructure. Samsung Electronics will invest $500 million, with the remaining amount coming from its affiliates.
Samsung has also announced a partnership with French AI startup Mistral AI to use AI technologies in its semiconductor operations, including chip design and manufacturing. The company also led Mistral's Series D funding round.
—Jenny Lee
58 Min AgoMainland China and Hong Kong shares open mixed
Mainland China and Hong Kong shares were mixed, tracking other Asian markets as investors continue to digest the latest round of earnings.
Hong Kong's Hang Seng index rose 0.24%, while mainland China's CSI 300 declined 0.64%.
The gains in Hang Seng were led by healthcare and energy sectors, up 1.64% and 0.45%, respectively.
—Justina Lee
2 Hours AgoAdvantest's shares surges 8% after company raises outlook
Shares of Advantest rose more than 8% after the semiconductor test solutions provider raised its full-year outlook on expectations that robust market conditions would continue into 2027.
Net income for the second quarter ended September was at 193.3 billion yen, compared with 79.6 billion yen in the same period a year ago.
Net sales in the quarter also surged by more than 81% on-year to 477.7 billion yen, driven by strong demand for semiconductor testing equipment linked to AI applications.
"Barring geopolitical risks and macroeconomic factors, we expect the industry to remain supply constrained, with end-customer demand continuing to exceed supply in CY27," the company said in its earnings presentation after market hours on Wednesday.
—Justina Lee
3 Hours AgoJapan's Nikkei gains 0.6%, South Korea's Kospi inches higher
Asia-Pacific markets traded broadly higher early Thursday.
Japan's Nikkei 225 added over 0.58% while the Topix was flat.
The Kospi rose 0.11% at open, while the small-cap Kosdaq fell 0.97%.
Australia's benchmark S&P/ASX 200 was 0.51% higher.
—Justina Lee
3 Hours AgoAsia-Pacific markets set to open higher after U.S. Fed holds rates steady
Asia-Pacific markets were set to open broadly higher Thursday, tracking U.S. stocks after the U.S. Fed holds steady on rates.
Japan's Nikkei 225 was poised to rise, with the Chicago futures contract at 64,595 and its Osaka counterpart last trading at 64,360, compared with the index's previous close of 63,954.19.
Hong Kong Hang Seng index futures were at 23,103, compared with the index's last close of 23,094.83.
Australia's S&P/ASX 200 was 0.47% higher.
Worries over the Middle East war continue to linger. According to the Wall Street Journal, the U.S. has conveyed to Gulf Arab countries to get ready for a intense, short military campaign following the U.S. midterm elections.
—Justina Lee
4 Hours AgoServiceNow and other stocks moving in after-hours trading
Shares of ServiceNow plummeted 18% in extended hours trading Wednesday after reporting its third quarter.
The enterprise software company posted adjusted profit of $1 per share, missing the LSEG consensus expectation of $1.02 a share.
Meanwhile, subscription revenue guidance for the fourth quarter ranged from $4.245 billion to $4.255 billion, while the FactSet consensus called for $4.25 billion.
Other stocks moving in extended trading include Chipotle Mexican Grill, Fortinet and Sprouts Farmers Market.
— Paulina Likos
4 Hours AgoLumentum shares rise on Bloomberg report that Marvell is in talks to buy optics player
Shares of optics maker Lumentum jumped in extended trading after Bloomberg News reported, citing people familiar, that Marvell Technology is in talks to buy the company.
An acquisition could be announced as early as next week, the people told Bloomberg. These people also told Bloomberg that the details could still change and that a final agreement hasn't yet been reached.
Lumentum shares surged 11% on the report, while chipmaker Marvell lost more than 8%.
Lumentum and Marvell in the past dayIn the artificial intelligence trade, Lumentum has emerged as a winner in the infrastructure space. The company builds optical transceivers and the photonic technology underlying AI and data centers. Shares have surged almost 148% in 2026 alone. In that period, Marvell has rocketed almost 200%.
—Darla Mercado
4 Hours AgoAmazon set to report third-quarter earnings Thursday evening
Big Tech earnings will continue Thursday with third-quarter results set to come from Amazon after the close.
The Street expects revenue of $202.22 billion, slightly above the high-end of the $197 billion-$202 billion guidance range, according to FactSet.
Investors will be keying in on growth in its cloud computing business, Amazon Web Services. Consensus estimates call for AWS revenue growth of 37.8% year over year, up from last quarter's 36.8% increase, according to FactSet.
The market will also look at whether there is growing adoption of its custom Trainium chips. Amazon stock is up 10% so far in 2026.
—Paulina Likos
4 Hours AgoS&P 500 futures and Nasdaq-100 futures open lower
Futures tied to the S&P 500 and the Nasdaq-100 opened lower Wednesday night in New York.
S&P 500 futures fell 0.3% and Nasdaq-100 futures lost 0.8% shortly after 6 p.m. Dow futures were initially up 47 points.
--Darla Mercado
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