US stock futures fell sharply on Thursday after Oracle’s disappointing earnings renewed concerns about the profitability of artificial intelligence investments. Dow futures dropped 0.5%, while S&P 500 and Nasdaq 100 futures declined 0.8% and 1.1%, respectively. Oracle plunged more than 11% in extended trading after missing revenue estimates, issuing soft guidance and projecting a $15 billion increase in spending compared with earlier plans. Meanwhile, during Wednesday’s regular session, the Dow rallied 1.05%, the S&P 500 gained 0.67% and the Nasdaq Composite added 0.33%. Those moves came as the Federal Reserve delivered its third quarter-point rate cut this year and delivered a less hawkish outlook than markets anticipated. Chair Jerome Powell also indicated that further hikes are unlikely and reiterated confidence in the resilience of the US economy.
