What happened
U.S. stock futures slipped after oil touched $90 a barrel. The move higher in energy prices raised questions about inflation and rates. Investors reacted to tech earnings with mixed signals. Alphabet slid after results showing softer ad demand and ongoing costs, while Tesla fell as it signaled heavier capital spending. AI hardware stocks rose as traders rotated into chip makers seen as beneficiaries of AI demand. AMD and other AI names helped lift the group.
Why it matters
Oil at $90 adds a new wrinkle for inflation and the path of rates. If energy costs stay elevated, consumer pockets and corporate margins could feel pressure. Tech earnings drive risk appetite and show how much companies plan to spend on AI and hardware. The gains in AI hardware names suggest investors are buying into the idea that AI-related spending will support the semis portion of the market even as some big names stumble.
What to watch
Key items to watch include oil price direction and fresh energy data. Alphabet and Tesla spending plans and profitability updates will matter. The AI hardware group will show if money is flowing into chips, data-center gear, and related software. Traders will also watch broader market tone and Fed signals that could shift expectations.