US Futures Stabilize After Tech Selloff
US stock futures steadied on Friday after the major indexes fell in the previous session, as technology shares sold off on reports that OpenAI’s revenue was below earlier estimates. On Thursday, the S&P 500 and Nasdaq Composite declined 0.47% and 1.25%, respectively, marking their second consecutive session of losses, while the Dow edged up 0.1%. Reports suggested that OpenAI’s annualized revenue reached $50 billion at the end of September, below the widely cited $68 billion figure from last month. Chipmakers led the decline, with Micron falling 4.8%, Nvidia dropping 2.9%, Sandisk losing 4.9%, AMD sliding 3.9% and Intel tumbling 5.3%. Meanwhile, SpaceX gained more than 4% in extended trading after announcing a deal to acquire a nationwide spectrum portfolio. Investors are now turning their attention to October’s US consumer sentiment data, along with earnings reports from Delta Air Lines and BlackRock.
US stock futures steadied on Friday after the major indexes fell in the previous session, as technology shares sold off on reports that OpenAI’s revenue was below earlier estimates. 1%. Reports suggested that OpenAI’s annualized revenue reached $50 billion at the end of September, below the widely cited $68 billion figure from last month. 3%.
Meanwhile, SpaceX gained more than 4% in extended trading after announcing a deal to acquire a nationwide spectrum portfolio. Investors are now turning their attention to October’s US consumer sentiment data, along with earnings reports from Delta Air Lines and BlackRock.