Futures Gain Modestly as Amazon Shares Drop
Futures have shown modest gains as traders step in to bargain shop following sharp losses in major tech stocks and broader equity weakness in recent sessions. However, there remains deepening investor skepticism about heavy capital expenditures on artificial intelligence and cloud infrastructure without near-term profit clarity, especially after Amazon's after-hours selloff tied to higher 2026 capex plans, which reverberated through the sector. Despite some rebound in select software names, the broader tech indices remain on track for steep weekly declines.Meanwhile, more defensive and cyclical sectors were relatively resilient as market participants rotated away from high-beta growth themes. In commodities, crude oil softened on dollar strength and signs of easing geopolitical tensions, while precious metals and industrial commodities experienced volatility linked to changing risk appetite.In pre-market trading, S&P 500 futures rose 0.54%, Nasdaq futures rose 0.63% and Dow futures rose 0.52%.Check out this morning's top movers from around Wall Street, compiled by The Fly.UP AFTER EARNINGS -Robloxup 9%Redditup 8%Fortinetup 3%Under Armourup 2%Biogenup 1%AutoNationup 1%DOWN AFTER EARNINGS -Molina Healthcaredown 32%Amazondown 8%Centenedown 4%Philip Morrisdown 2%LOWER -Hims & Hersdown 5% after FDA commissioner Marty Makary said the FDA will be taking action against companies producing "illegal copycat drugs" claiming to be similar to FDA-approved products
