Retail sentiment on major ETFs such as SPY and QQQ remains mixed on Stocktwits
- Wall Street digested massive capital expenditure forecasts from Big Tech, even as earnings momentum remained intact.
- Attention now shifts to Amazon’s earnings after the closing bell.
- Silver cracked over 15%, derailing a two-day rebound, but retail interest in SLV remains high on Stocktwits.
U.S. stock futures were subdued early Thursday as investors parsed capital expenditure forecasts from tech giants. Alphabet crossed the historic $400 billion annual revenue mark for the first time, but it has also shared a staggering forecast for 2026 spending. Meanwhile, Amazon (AMZN) will report earnings today after market close.
As of 3:00 a.m. ET on Thursday, Nasdaq futures were up 0.2%, the S&P 500 futures and Dow futures were flat, while Russell 2000 futures were up 0.1%.
Meanwhile, retail sentiment toward the SPDR S&P 500 ETF (SPY), an exchange-traded fund that tracks the S&P 500 Index, has remained ‘bearish’, while the Invesco QQQ Trust (QQQ) ETF, which tracks the Nasdaq 100 Index, moved to ‘bullish’, amid high message volumes.
In a sharp reversal, silver cracked over 15%, derailing a two-day rebound. The iShares Silver Trust (SLV) and SPDR Gold Shares ETF (GLD), however, continue to see retail sentiment remaining in the ‘extremely bullish’ territory, with ‘extremely high’ levels of chatter.
Trending Stocks To Watch
Alphabet (GOOGL): The global tech giant has projected AI-related capital expenditures of $175 billion to $185 billion for 2026, raising investor concerns. However, this came as a boost for AI suppliers, leading to a rise in Nvidia and Broadcom (AVGO) shares in after-hours trade.
Nvidia (NVDA): Reports suggest that while the Trump administration is willing to license H200 chips for China's ByteDance, Nvidia is yet to comply with the ‘Know-Your-Customer’ (KYC) requirements tied to national security safeguards.
Amazon (AMZN): All eyes will be on its earnings report after the bell. Investors will be looking for updates on AWS growth and AI efficiency.
Microsoft (MSFT): Downgraded by Stifel to Hold with a price target cut to $392 (down from $540), amid ‘Azure supply issues’ and rising competition from Google and Anthropic.
Meanwhile, Wedbush’s Dan Ives noted the software space has become a short-term ‘do not enter’ zone but highlighted MSFT, PLTR, CRWD, SNOW, and CRM as longer-term winners amid the pullback.
Qualcomm (QCOM) & Arm (ARM): Analysts believe that the global memory shortage could last through 2027.
Ciena Corp (CIEN): Set to join the S&P 500, replacing Dayforce.
Also, watch out for rare earth stocks in trade today. The U.S. has unveiled an initiative to form a ‘preferential trade bloc’ for critical minerals. By coordinating price floors via adjustable tariffs, the Trump administration aims to protect domestic producers from low-cost Chinese exports.
Other tickers trending on Stocktwits at the time of writing included AMD, HOOD, RDDT, RUM, and MSTR, among others.
Other Catalysts To Watch
Atlanta Fed President Raphael Bostic is scheduled to speak at 10:50 a.m. ET, and traders will be watching for any commentary on the rate trajectory and economic indicators.
On the earnings radar, investors will also be watching for the quarterly reports from Peloton (PTON), Barrick Mining (B), Estee Lauder (EL), Roblox (RBLX), Affirm (AFRM), IREN Limited (IREN) and Cleanspark (CLSK), among others.
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