Futures down Dow 0.35, SP 0.54, Nasdaq 0.86

April 25 Reuters U.S. stock index futures fell on Thursday, as shares of most megacap growth stocks took a beating after dour quarterly results from Meta Platforms, ahead of more economic data in the week that could influence the Federal Reserve39;s monetary policy.

Meta plunged 12.9 in premarket trading after the Facebookparent forecast higher expenses and lighterthanexpected revenue and raising fears the surging cost of AI is outpacing its benefits.

Social media firms like Snap and Pinterest slid 4.8 and 4.3, respectively.

Shares of some other growth stocks also fell, with Alphabet, Amazon.com and Microsoft down between 1.5 and 2.7.

These earnings were a test to see if big tech firms that implement AI tech, rather than make the hardware, can generate revenue from AI. On this front, Meta39;s earnings were a disappointment, Kathleen Brooks, research director at XTB, said in a note.

Alphabet, Microsoft and Intel are scheduled to report their quarterly numbers on Thursday after markets close.

Downbeat results from other technologylinked stocks also weighed on equities. International Business Machines dropped 8.5 after the firm said it will buy HashiCorp in a deal valued at 6.4 billion, and as its firstquarter revenue missed estimates.

ServiceNow shed 4.5 after the digital workflow company forecast secondquarter subscription revenue below market expectations.

On the day, Caterpillar, American Airlines and BristolMyers…