Wall Street futures slip Thursday on AI spending worries and oil surge

US stock futures traded lower early Thursday, 23 July. As of 4 a.m. Eastern time, Nasdaq futures were down about 0.7 percent, Dow and S&P 500 futures fell roughly 0.5 percent, and Russell 2000 futures slipped about 0.3 percent. The SPDR S&P 500 ETF was 0.25 percent lower at 745.57 dollars and the Invesco QQQ was down 0.21 percent at 703.89 dollars in premarket trading.

The selling followed heavy capital spending plans and earnings from Alphabet and Tesla that revived worries about corporate outlays on artificial intelligence. A jump in oil prices tied to US and Iran tensions, along with anticipation of the weekly jobless claims report, added to the cautious mood.