🔴 Tech ETF (SPTE) is trading 1.75% down today as Alphabet results revive doubts over AI returns

SPTE is trading at $47.63, down 1.75%, as disappointing Alphabet results and heavy AI investment reignite doubts about returns.

• Alphabet fell sharply after weak results and negative free cash flow; Microsoft’s strong Azure growth offered a partial counterweight.
• Investors are digesting September PCE inflation and the Fed’s rate decision.
• Amazon and Intel earnings are due after the close; pressure also weighed on Nasdaq futures and semiconductor stocks.