Wall St futures slide as Oracle tumble, AI doubts offset dovish Fed signals

Investing.com– Wall Street futures extended losses on Wednesday evening as underwhelming earnings from Oracle sparked renewed concerns over artificial intelligence spending, offsetting some dovish signals from the Federal Reserve.

A sharp fall in Oracle’s shares and those of related AI and tech companies were a major drag on futures, as markets grew increasingly concerned over how the cloud computing giant will fund its data center plans. This trend was furthered during the Asian session on Thursday.

Concerns over AI largely offset dovish signals from the Fed, which cut interest rates and signaled plans to buy more bills in the market and boost liquidity levels.

S&P 500 Futures fell 0.9% to 6,832.50 points by 22:16 ET (03:16 GMT). Nasdaq 100 Futures slid 1.4% to 25,446.25 points, while Dow Jones Futures fell 0.4% to 47,916.0 points.

Oracle slumps, Nvidia down as mixed earnings spark AI doubts

Oracle (NYSE:ORCL) slid as much as 10% in aftermarket trade, while related AI-linked stocks, including NVIDIA (NASDAQ:NVDA), also retreated.

This came after Oracle forecast disappointing earnings for the current quarter, and sharply hiked its capital expenditure outlook for fiscal 2026. Oracle’s fiscal second-quarter earnings also underwhelmed.

The weak earnings, coupled with plans for higher spending, sparked increased doubts over just how Oracle planned to convert its massive AI expenditures into revenue.