🔴 Software ETF (IGV) is trading 4% down in pre-market as Alphabet’s AI spending raises return concerns

IGV is trading at $107.45 (-3.99%) as Alphabet’s earnings and free-cash-flow shortfall, alongside roughly $51.4 billion in quarterly capex, revived concerns about returns on massive AI investment.

• Nasdaq futures were down 1.28%, amplifying pressure on software shares.
• Q3 GDP and Personal Income & Outlays are scheduled for 8:30 a.m. ET and may further affect rate-sensitive growth stocks.