Futures-options traders work on the floor at the New York Stock Exchange's NYSE American (AMEX) in New York City, U.S. July 15, 2026.

U.S. equity futures slipped early Thursday as investors weighed fresh earnings, artificial intelligence spending concerns and rising oil prices.

Futures tied to the Dow Jones Industrial Average lost 43 points, or 0.1%. S&P 500 futures dropped 0.2% and Nasdaq 100 futures fell 0.2%.

Alphabet shares slid 3% in extended trading after the Google parent lifted its forecast for 2026 capital expenditures to as high as $205 billion, pointing to strong artificial intelligence demand. The increase comes as investors have grown more cautious in recent months about hyperscalers' spending around the AI effort.

In regular trading, the Dow fell 6.06 points, or 0.01%. The broad market S&P 500 lost 0.14%, and the tech heavy Nasdaq Composite dropped 0.57%.

Asia-Pacific markets ended higher Thursday, with Japan's Nikkei 225 closing at 0.46% higher. South Korea's Kospi advanced 4.40%. Australia's benchmark S&P/ASX 200 rose 0.18%. Mainland China's CSI 300 closed 0.23% higher.

Oil prices rose Thursday after a tanker was struck by an unknown projectile off Saudi Arabia and U.S. President Donald Trump threatened to bomb Iranian infrastructure. Brent crude futures for September delivery gained 2% to $95.99 per barrel. U.S. West Texas Intermediate crude futures advanced around 1.7% to $88.27 per barrel.

"Without an abundance of strong earnings as a distraction, investors' attention has gravitated toward the war again," said Hardika Singh, economic strategist at Fundstrat. "Those who had previously thought that oil prices have peaked are now being forced to redo the inflation math all over again. Now more than ever, pricing power remains key for companies if they want investors to reward them."

On Thursday, investors are looking forward to another busy day of earnings. Dow, American Airlines, T-Mobile, Union Pacific and Norfolk Southern are on deck before the bell. Intel will report after the market close.

Weekly jobless claims will be released at 8:30 a.m. ET.