Nasdaq Futures Sell Off 758 Points as Big Tech Extends Tumble

Big Tech earnings continue to disappoint this morning, as stock futures trade lower once again following a grim post-earnings reaction from Amazon.com (AMZN) and Intel (INTC). Futures on the Nasdaq-100 Index (NDX) are selling off 758 points, while the S&P 500 Index (SPX) and Dow Jones Industrial Average (DJI) trade lower as well, as AI spending concerns continue to pressure sentiment. The tech-heavy index is pacing for a steep October loss, while the S&P 500 and Dow eye monthly wins. Ahead of today, all three indexes were eyeing a slim weekly gain.

Continue reading for more on today's market, including:

• Earnings season continues next week as November kicks off.
• Everything you missed regarding Alphabet's grim quarter.
• Plus, more on INTC and AMZN's post-earnings selloffs; and EV name driving higher.

5 Things You Need to Know Today

1. The Cboe Option Exchange saw roughly 2.3 million call contracts and 1.3 million put contracts traded on Thursday. The single-session equity put/call ratio rose to 0.58, while the 21-day moving average remained at 0.58. 
2. Intel Corp (NASDAQ:INTC) is down 25.2% before the bell, after the company reported a lower-than-anticipated fourth-quarter guidance. This is overshadowing its top- and bottom-line beat, as data center demand continues to increase. INTC is seeing several bear notes in response, including a downgrade to "neutral" from "buy" at Seaport Research Partners. Since the start of 2026, the stock has gained 149%.
3. Amazon.com Inc (NASDAQ:AMZN) is 6.5% lower ahead of the open, after the Big Tech leader missed third-quarter earnings and revenue estimates. AI spending triggered an extremely inflated negative cash flow, though its Amazon Web Services unit did manage to beat revenue estimates. Should these losses hold, AMZN will erase its year-to-date gain.
4. On the flip side, Rivian Automotive Inc (NASDAQ:RIVN) is up 6% in premarket trading, after the EV name shared a Q3 beat-and-raise. RIVN has been struggling on the charts this year, yesterday tapping a new annual low of $11.37, while carry a 16% year-over-year deficit into today's session.
5. Magnificent 7 member headlining next week's earnings calendar.

Asian Markets Fall Despite Big Bank Gains

Asian stocks finished the week mostly lower Friday. China’s Shanghai Composite dropped 1.4%, despite five of the region’s largest banks posting solid third-quarter profit growth. Meanwhile, China's central bank announced plans to conduct daily overnight reverse repo operations starting Monday, with the rate currently at 1.25%, in an effort to improve short-term interest rate management. Elsewhere, the South Korean Kospi fell 3.5%, while Hong Kong’s Hang Seng index gained 1.5%, and Japan’s Nikkei dropped 2.1%. The Bank of Japan (BoJ) held rates steady as inflation came broadly in line with its target of 2% for the first time since 2013.  

European bourses are mixed. The European Central Bank (ECB) held interest rates steady Thursday but signaled another potential hike in December amid mounting inflation concerns fueled by rising energy costs. Meanwhile, France's economy contracted 0.1% in the third quarter as the country grapples with political unrest. At last glance, London’s FTSE 100 was up 0.1%, while France’s CAC was flat, and Germany’s DAX was off 0.8%.