Traders work on the floor of the New York Stock Exchange (NYSE) in New York, US, on Thursday, Oct. 8, 2026.
Michael Nagle | Bloomberg | Getty Images
Nasdaq-100 futures rose on Friday following a losing session in which an underwhelming revenue report from OpenAI took some steam out of the high-flying artificial intelligence trade.
Futures linked to the Nasdaq-100 added 0.7%. S&P 500 futures climbed 0.3%, while Dow Jones Industrial Average futures traded around the flatline.
The State Street Technology Select Sector SPDR ETF (XLK) traded 1% higher. Tech shares broadly were led by a 3% gain in SpaceX. The Elon Musk-led space and satellite company rose on a deal to buy a nationwide spectrum portfolio. Shares of AT&T, Verizon and T-Mobile slid as investors wondered worried the agreement could drive up competition.
Other tech names that advanced on Friday include Lumentum and KLA, which gained 6% and 2%, respectively.
AI stocks dropped on Thursday after CNBC confirmed that OpenAI told investors that it saw $50 billion in annualized revenue at the end of September. Last month, a $68 billion figure was widely reported, though a person familiar with the matter said it also included gross revenue from partners.
The Nasdaq Composite dropped more than 1%, marking its biggest one-day loss since mid-August. Thursday marked the second down day in a row for the tech-heavy index after it climbed to fresh all-time records earlier in the week.
"The sell-off reflected extreme positioning imbalances that have further to unwind in our view, which is why the whole AI-linked tech stock complex is unlikely to simply stage a sharp, V-shaped rebound," wrote Adam Crisafulli of Vital Knowledge.
"When it comes to AI, the main issue isn't the gross vs. net issue with [annualized recurring revenue] but instead: 1) the fact that the standalone frontier labs are increasingly unattractive businesses ... and 2) growing signs that markets are pushing back on the tidal wave of AI-linked debt and equity being thrown at them," he added.
The Dow and Nasdaq Composite are both around flat week to date. The broad S&P 500 is on track for a gain of 0.6% for the week.
Brazil ETF on pace for best week since November 2020
The iShares MSCI Brazil ETF (EWZ) has risen 13% this week, putting the fund on track for its best week since Nov. 6, 2020, when it gained 14.52%.
The move comes on the heels of the first round of the country's presidential election, in which Senator Flavio Bolsonaro exceeded expectations by taking a slim lead over President Luiz Inacio Lula da Silva.
The two will go head to head in a runoff scheduled for later this month.
EWZ, 5-day
— Sean Conlon and Gina Francolla
Morgan Stanley upgrades Cboe Global Markets
Cboe Global Markets is likely to continue gaining ground following the renewal of its S&P Dow Jones Indices (DJI) contract, according to Morgan Stanley.
The investment bank double upgraded Cboe to overweight from underweight. It also hiked its price target on shares to $358 from $258, implying nearly 22% upside from Thursday's close.
In late September, Cboe extended its agreement that gives its exclusive rights to list and offer trading of options on the S&P 500 Index, some of the most widely traded instruments in the world.
"The S&P DJI extension through 2051 addresses a key underpinning of our prior UW, while options growth has proved more durable than we expected and we see attractive optionality with new prediction markets product launch," analyst Michael Cyprys said Friday in a note to clients. "This is in the context of negative investor sentiment and positioning yet attractive valuation."
CBOE, 1-day
CNBC Pro subscribers can read more here.
— Liz Napolitano
2 Hours Ago
CoreWeave, Lumentum and American Tower among the names making moves before the bell
Check out the companies making the biggest moves premarket:
- Tower stocks — Shares of American Tower and Crown Castle were higher by 6% and almost 8%, respectively. Both were rising on the news that SpaceX was expanding its spectrum portfolio.
- AI stocks — A slew of companies with exposure to the artificial intelligence buildout were higher in premarket trading Friday after many declined on Thursday following reports that OpenAI's annualized revenue was about $20 billion lower than previously shared. CoreWeave jumped 2.5%, while Oracle and Broadcom rose 1.5%.
- Lumentum — Shares jumped 6% after the company's CEO Michael Hurlston said that Lumentum's optical components are sold out through 2029. He said Lumentum will struggle to meet as much as 70% demand for some products through next year.
Read the full list here.
— Davis Giangiulio
3 Hours Ago
Delta slides on earnings miss
Shares of Delta Air Lines fell 4% after the company reported its first earnings miss in two years and cut its 2026 outlook.
Third-quarter earnings per share came in at $1.72, adjusted, while revenue totaled $17.59 billion. Analysts polled by LSEG expected a profit of $1.75 per share on revenue of $17.67 billion.
For 2026, the airline sees adjusted earnings per share in a range of $5.10 to $5.60. In July, that outlook sat in a range of $6.50 to $7.50. The company pointed to higher fuel prices for the guidance downgrade.
DAL 5-day chart
— Fred Imbert
5 Hours Ago
Stocks moving in premarket: Apple, telecoms fall; Humana up 14%
Apple shares were seen around 2% lower in premarket, after Nikkei Asia reported that the company has told some suppliers to cut production of components for its new iPhone 18 Pro and iPhone 18 Pro Max models. CNBC has reached out to Apple for comment.
Telecoms stocks including AT&T, Verizon and T-Mobile were all sharply lower following a SpaceX deal that will boost its drive to become a mobile carrier competitor in the U.S. SpaceX shares were up nearly 4% early Friday.
Humana meanwhile popped 14% after the insurer was upgraded in closely watched Medicare Advantage quality ratings data.
— Jenni Reid
5 Hours Ago
Treasury yields steady following Trump's Iran pledge
Treasury yields steadied early Friday as traders assessed President Donald Trump's pledge to not attack Iran until after the midterm elections.
Yields on 10-year U.S. Treasurys — the main benchmark for mortgages, auto loans and credit card debt — were holding firm at 5.2399%.
The yield on longer-dated 30-year U.S. Treasurys — which tend to move on geopolitical events — was also unchanged at 5.6139%.
The yield on the 2-year Treasury note, which more closely follows short-term Federal Reserve rate decisions, was more than 2 basis points higher at 4.7827%.
— Hugh Leask
6 Hours Ago
European stocks trade higher as telecoms tumble
European stocks popped in early Friday trade, with the regional Stoxx 600 index up 0.8% at 8:18 a.m. in London and many sectors trading more than 1% higher.
Mining stocks led the charge, up 1.8%, amid concerns of a copper supply squeeze due to strikes at several major operations. Retailers were also 1.6% higher.
Telecommunication stocks tumbled more than 2%, with Deutsche Telecom down 7%, after a SpaceX deal that will give the company greater reach in the U.S. telecoms market rattled U.S. incumbent players AT&T, Verizon and T-Mobile in extended trading. Deutsche Telecom is the parent company of T-Mobile US.
— Jenni Reid
7 Hours Ago
Airtel Money to begin conditional trading ahead of London listing
Airtel Money, the mobile banking unit of London-listed telecoms group Airtel Africa, is set to begin conditional trading of its shares on Friday ahead of its admission to the London Stock Exchange on Oct. 14.
The company has set 270 million shares at a fixed price of £1.96 ($2.60), implying an estimated market capitalization at admission of £5.3 billion.
Airtel Money reported $1.35 billion in revenue and $676 million in adjusted earnings in the year to June 2026 and has 53 million monthly active users.
A roadside mobile money kiosk for Airtel Africa Plc in Lusaka, Zambia, on Friday, Feb. 23, 2024.
Bloomberg | Bloomberg | Getty Images
The float is expected to be one of the biggest in the U.K. capital since fintech Wise made its £8.75 billion IPO in 2021. Wise has since moved its main listing to New York in a major blow to London, which has lost a steady stream of mid- to large-scale companies in recent years.
Dan Coatsworth, head of markets at AJ Bell, said in a September note that investors would be "rejoicing as the UK stock market is finally getting an IPO that isn't a tiny natural resources company," but noted that Airtel Money would not raise new money from the sale, which will come from existing minority shareholders including TPG and the Qatar Investment Authority,
— Jenni Reid
6 Hours Ago
Asia-Pacific markets close mostly in the green
Asia-Pacific markets closed mostly higher Friday.
Mainland China's CSI 300 advanced 0.16% to 4,317.26, while Hong Kong'sHang Seng index was up 1.4% in its last hour of trade.
Japan's Nikkei 225 was little changed at 69,030.92, while the Topix rose 0.33% to 4,104.81.Australia's S&P/ASX 200 added 0.64% to 8,716.6.
South Korean markets were closed for a holiday.
— Lee Ying Shan
9 Hours Ago
U.S. Treasury yields hold near multi-decade highs as inflation concerns persist
U.S. Treasury yields were largely stable on Friday, with the benchmark 10-year yield falling less than one basis point to 5.227%, while the 30-year yield was little changed at 5.608%.
Both remained near multi-decade highs amid concerns over persistent inflation and elevated government borrowing.
Swiss private bank UBP raised its estimated fair-value range for the 10-year Treasury yield to 4.75%–5.25% in its October outlook, citing renewed inflationary pressures. The bank said in a note on Friday that risks to yields had become more balanced, although visibility remained limited, prompting it to maintain a neutral duration stance of four years and favor income from bond holdings rather than taking directional bets on interest rates.
UBP also expects the Federal Reserve to tighten monetary policy gradually, with rate cuts unlikely before the second half of 2027.
— Lee Ying Shan
11 Hours Ago
Oil falls as Trump says U.S. will not attack Iran before midterm election
Oil fell Friday as U.S. President Donald Trump's commentson Iran calmed nerves, following reports that America was considering resuming strikes against Tehran.
Futures for international benchmark Brent crude for December delivery dropped 0.77% to $103.48 a barrel. U.S. West Texas Intermediate futures for November declined 0.68% to $90.87 per barrel.
Trump said in a post on Truth Social the U.S. "will not be attacking Iran at any time prior to the Midterm Elections," and was having "productive discussions" with Iran.
"In the meantime, accelerated IEA-coordinated stock releases and greater use of alternative export routes could help limit supply pressures," said Thadeu Dos Santos, regional director at markets trading platform Infinox.
"Saudi Arabia's continued use of its restored East-West pipeline is also allowing more crude to reach international markets without relying on the Strait of Hormuz, providing some offset to the upside risks," he added.
— Justina Lee
12 Hours Ago
Nvidia-backed Aussie AI firm Firmus withdraws historic IPO, citing market volatility
Australian AI data center operator Firmus, which is backed by Nvidia, has withdrawn its planned mega initial public offering, citing market volatility and conditions, the company said in an emailed statement to CNBC.
Firmus said its board determined that the terms of the proposed offering did not adequately reflect the strength of its business and long-term growth outlook.
"The board therefore concluded that proceeding with the offer was not in the best interests of the company and its shareholders," Firmus said in a statement. "Firmus will now pursue capital from the private markets and consider alternative public and private market options," it added.
Firmus had reportedly planned to raise $5 billion in its IPO, pricing shares at A$11 apiece, which woul have made it the second-largest new share sale in Australia's history. The IPO valued the company at around $30.6 billion.
— Jenny Lee
13 Hours Ago
Japan's Nikkei opens lower as tech stocks fall after Wall Street AI sell-off
Asia-Pacific markets opened subdued on Friday.
Japan's Nikkei 225 lost 0.76%, while the Topix was little changed. Australia's S&P/ASX 200 added 0.37%.
Japanese tech stocks were largely lower, tracking tech stock losses in the U.S. as investors assessed OpenAI's underwhelming revenue report.
Shares of SoftBank Group declined over 6%. Chip manufacturer Advantest fell 1.81%, while Tokyo Electron lost 1.52%. Renesas Electron fell 3.5%.
South Korean markets are closed for a holiday.
— Lee Ying Shan
14 Hours Ago
Asia markets set for subdued open after Wall Street falls on AI jitters, Middle East tensions
Asia-Pacific markets were set for a subdued open Friday as renewed doubts over the artificial intelligence boom and lingering geopolitical tensions in the Middle East dent investor sentiment.
Japan's Nikkei 225 was set to fall at open, with its Chicago and Osaka futures contracts last at 68,515 and 68,390 respectively, compared with the index's previous close of 69,042.11.
Futures for Hong Kong'sHang Seng index stood at 23,802, higher than its last close of 23,785.79.
Australia's S&P/ASX 200 added 0.44% in its first hour of trade.
South Korean markets are closed for a holiday.
U.S. technology stocks came under pressure Thursday after fresh details about OpenAI's revenue raised concerns over the artificial intelligence trade. Denting sentiment further,oil prices rose after President Donald Trump said he was not keen on making a deal with Iran to end the war.
— Lee Ying Shan
14 Hours Ago
Individual investors a lot more bullish and a lot less bearish this week than recently
Main Street investors have grown a lot more bullish and a lot less bearish lately, according to the latest weekly survey by the American Association of Individual Investors.
Optimism toward the six-month outlook for stocks rose to 40.3% this week, the highest since mid-July, up from 34.6% last week and above the historical average of 37.5%.
Investors describing themselves as bearish dropped to 39.0% this week from 46.5% last week and 53.3%, the highest since May 2025, just three weeks ago. Historically, bears account for 31.5% of the survey and were last below that level in January 2026.
Mom-and-pop investors who characterize themselves as neutral about the six-month outlook for stocks rose to 20.8% in the latest week, from 18.9% last week. The historical average is 31.0%.
— Scott Schnipper
15 Hours Ago
SpaceX rises after announcing spectrum portfolio deal; telecom stocks fall
SpaceX shares rose almost 3% in extended trading on Thursday after the rocket company unveiled an agreement to buy a nationwide spectrum portfolio.
Shares of AT&T, Verizon and T-Mobile tumbled as traders worried that they could lose market share as competition rises.
— Alex Harring and Lora Kolodny
15 Hours Ago
Stocks making the biggest moves in after-hours trading: Humana, T-Mobile and Park Aerospace
Here are the companies making headlines in extended trading:
- Telecom providers – Grain Management announced it has reached an agreement with SpaceX in which Elon Musk's space company will purchase its nationwide 800 megahertz spectrum portfolio, a move that will bolster Starlink Mobile's capabilities. T-Mobile dropped 6%, AT&T fell almost 7% and Verizon lost more than 6%.
- Managed care providers – Insurers' shares swung sharply after the Centers for Medicare & Medicaid Services rolled out its 2027 Star Ratings on its Medicare Plan Finder for open enrollment this fall. Shares of Humana surged 12% after the insurer's largest Medicare Advantage contract saw its rating improve. Alignment Healthcare cratered 23%.
- Park Aerospace – The manufacturer of composite materials for the aerospace market shed earlier gains and traded down 1%. Park Aerospace earned 21 cents per share on revenue of $20.8 million in the second quarter. That compares to 12 cents a share and $16.4 million in the year-ago period.
— Darla Mercado
15 Hours Ago
Stock futures open little changed Thursday night
U.S. stock futures were little changed as the futures market opened in New York.
S&P 500 futures were up 0.02%, while the Nasdaq-100 futures added 0.1%. Dow futures were about flat.
— Darla Mercado
