Dow Jones futures rebound as OpenAI sales outlook calms tech selloff
Dow Jones futures inch higher by 0.05% to trade near 51,520 during European hours on Friday. S&P 500 futures gain 0.33% to around 7,840, while Nasdaq 100 futures rise 0.82% to near 31,220.
US futures indices experienced a rebound as market sentiment recovered, driven by reports that OpenAI expects its annualized revenue to reach or exceed $70 billion by year-end. The upbeat projection helped ease investor concerns triggered by earlier reports indicating that the company's revenue had fallen $20 billion short of previously signaled levels.
The early optimism followed a mixed regular trading session on Wall Street on Thursday, where an initial, underwhelming revenue report from OpenAI led to a late-day selloff in technology and semiconductor stocks. Reports had suggested that OpenAI’s annualized revenue stood at $50 billion at the end of September, substantially below the widely circulated $68 billion figure reported the prior month. Consequently, the S&P 500 dropped 0.47%, and the Nasdaq Composite fell 1.25%, while the Dow Jones Industrial Average managed a modest 0.1% gain.
Adding to the dynamic backdrop, crude oil prices pulled back after US President Donald Trump stated that the US would refrain from military action against Iran ahead of the November midterm elections. Although lower energy costs helped alleviate immediate inflation anxieties, persistently high US Treasury yields continued to cast a shadow over the broader market outlook.
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On October 9th, shares of smart sensing technology company Oxford Metrics OMG1.L fell by 14% to 30 pence, marking their lowest level since March 2015. The company expects an adjusted operating loss of between £500,000 and £3.9 million for fiscal 2026, while the market consensus was for a profit of £3 million. Oxford Metrics noted that key markets served by its motion capture division, Vicon, remain soft, with R&D funding under pressure and major projects in the industrial vision and measurement systems business facing delays. The company has acquired the assets of Move AI to enhance Vicon’s AI-based motion capture technology and reach more customers and markets. Year-to-date, the share price has dropped about 45%, including the decline on the day. (For the convenience of non-English speakers, Reuters has automated translation of its reports into various other languages. As automated translation may be inaccurate or lack necessary context, Reuters does not guarantee the accuracy of the translated text and provides it as a convenience only. Reuters is not responsible for any damage or loss caused by the use of automated translation features.)
BUZZ-European telecom stocks fall after SpaceX reaches spectrum agreement
On Thursday, SpaceX SPCX.O announced it had reached an agreement (link) to acquire a portfolio of low-frequency band spectrum licenses across the United States, which will enable Starlink Mobile to become a major telecommunications operator in the US. Following this news, shares of European telecom service providers fell by 3% to 7%. Deutsche Telekom DTEGn.DE, which holds a 54% stake in T-Mobile US TMUS.O, saw its share price drop by 7%, set for its biggest single-day loss since June 2023. “Deutsche Telekom is negatively impacted as competition in the US market intensifies,” according to a local trader. This acquisition could potentially allow SpaceX to provide direct mobile communication services to smartphones from space in the future. Scotiabank pointed out, “SpaceX’s acquisition of spectrum in the US today makes the threat of hybrid networks more realistic, though network capacity and deployment economics in dense markets have yet to be validated.” Spanish operator Telefonica TEF.MC, France's Orange SA ORAN.PA, and UK’s Vodafone VOD.L all declined by about 3%. The European STOXX 600 telecom index .SXKP dropped 2.8%. (For the convenience of non-English speakers, Reuters automatically translates its reports into several other languages. Since these automated translations may contain errors or lack the needed context, Reuters does not guarantee the accuracy of automated translation texts and provides them for reader convenience only. Reuters bears no responsibility for any harm or loss due to use of automated translation.)
10-Yr Benchmark Govt Yields - U.S. vs Other Nations
Current Spread in Yield Basis Points U.S. 5.243 % Australia 5.345 % 10.2 Belgium 4.295 % -94.8 Canada 3.929 % -131.4 Denmark 3.260 % -198.4 France 4.816 % -42.7 Germany 3.474 % -177.0 Italy 4.540 % -70.3 Japan 3.017 % -222.6 Netherlands 3.577 % -166.6 Spain 4.064 % -117.9 Sweden 3.205 % -203.8 U.K. 5.427 % 18.4 Source: Tullett Prebon via FactSet (END) Dow Jones Newswires October 09, 2026 04:10 ET (08:10 GMT)
TRexBio Prices $116.7 Million Initial Public Offering
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