🔴 S&P 500 ETF (SPY) is trading 1% down in pre-market as weak guidance renews AI-spending concerns

SPY is trading at $761.58, down 1.01%, as weak tech guidance weighs on markets.

• Weak guidance sent Intel down about 25% and Amazon down roughly 7% pre-market, renewing concerns about PC demand and costly AI investment.
• Nasdaq futures fell more sharply than S&P 500 futures; S&P 500 futures were down about 1% in a Reuters snapshot.
• The Employment Cost Index release is scheduled for 8:30 a.m. ET, after this 6:29 a.m. alert.