Stock Futures Slide as Oil Hits $95, Alphabet Eyed
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- Dow, S&P 500, and Nasdaq futures all slid in pre-market trading, with Wall Street set to open lower amid the broad market selloff
- Oil prices jumped to $95 per barrel, weighing on futures as traders repositioned ahead of major earnings (CNBC, qz.com)
- Alphabet earnings served as the day's key catalyst, with rate-hike odds rising in the lead-up to the report (qz.com)
- Tesla earnings were also on deck alongside Alphabet, making mega-cap tech the focal point for the session's trader positioning (Yahoo Finance)
Why it matters: Traders entering the session face dual headwinds: oil at $95 signals sticky inflation pressure while rising rate-hike odds ahead of Alphabet and Tesla earnings raise the bar for mega-cap tech to justify current valuations. With all three major index futures already sliding pre-market, Alphabet's report will either confirm or offset the bearish setup now priced in.
