Why did US stock futures decline on Thursday, and what role did Alphabet's earnings play?

US stock futures declined on Thursday as investors weighed earnings from AI-heavyweight companies for evidence that surging capital spending is translating into growth; Alphabet Inc. dropped nearly 5% after raising its full-year capital expenditure forecast to as much as $205 billion—exceeding prior guidance and Wall Street expectations—even as its cloud revenue beat estimates, signaling intensified scrutiny over returns on massive AI infrastructure investments.

What factors are driving the recent rise in US crude oil prices, and how is this affecting broader financial markets?

US crude oil climbed over 1% on Thursday amid escalating geopolitical tensions, as the US and Iran downplayed prospects for peace talks and Tehran warned of retaliatory strikes on regional energy infrastructure tied to US interests, intensifying concerns over supply disruptions; this oil rally sent Treasuries lower, pushing the two-year yield up by four basis points, and raised fears that higher energy prices could sustain inflation and complicate the Federal Reserve’s policy path.

US Stock Futures Slip on Alphabet, Oil Advances: Markets Wrap

Jul 22, 2026

US stock futures slipped as Alphabet earnings were weighed, while crude oil prices rose over 1% amid US-Iran tensions. The energy rally heightened inflation concerns ahead of the Federal Reserve's upcoming policy decision.

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2026-07-22

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US Stock Futures Slip on Alphabet, Oil Advances: Markets Wrap

US Stock Futures Slip on Alphabet, Oil Advances: Markets Wrap

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