Alphabet’s earnings highlight strong AI demand but rising costs, pressuring Nasdaq futures below 29,195 support.
Nasdaq futures slipped below the critical 29,195 level after Alphabet’s earnings report, giving bears a short-term edge. The index struggled to hold gains above 29,300, with support now at 29,020-29,195.
Analysts flagged Alphabet’s strong AI and cloud demand as positive, but surging capital spending and negative free cash flow raised investor concerns. The Nasdaq prediction score stands at -3 out of 10, reflecting medium confidence in a bearish bias.
A break below 29,020 could trigger further declines, while a move above 29,195 would signal potential recovery. Resistance remains at 29,295-29,365, where prior rallies stalled.