US Stock Futures Rise & Oil Prices Decline - Asia Market Wrap
US stock futures advanced and Asian equities climbed as fresh details about OpenAI's projected revenue helped ease concerns over technology valuations. S&P 500 futures gained 0.3%, while Nasdaq 100 contracts rose 0.5%. OpenAI expects annualized revenue to reach or exceed $70 billion by year-end, driven largely by growth in its enterprise business. The gains followed a decline in US equities on Thursday, when chipmakers fell 3.4% after reports that OpenAI's annualized revenue was $20 billion below previously indicated levels. Asian shares rose 0.3%, while European stocks were positioned to open higher. Investors continued to assess whether AI companies could sustain their rapid growth and justify elevated valuations. Brent crude declined 1.2% to $102.95 a barrel after Trump said the US would attack Iran ahead of November's midterm elections. Treasuries extended gains from the previous session, while the Dollar weakened. Gold advanced as long-term Treasury yields retreated from their highest levels in more than two decades, while bullion climbed 1.1% to around $4,175 an ounce. In Japan, the 10-year government bond yield fell 5.5 bps to 3.025%. The Yuan strengthened as hopes of easing
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US stock futures advanced and Asian equities climbed as fresh details about OpenAI's projected revenue helped ease concerns over technology valuations. 5%. OpenAI expects annualized revenue to reach or exceed $70 billion by year-end, driven largely by growth in its enterprise business. 4% after reports that OpenAI's annualized revenue was $20 billion below previously indicated levels.
3%, while European stocks were positioned to open higher. Investors continued to assess whether AI companies could sustain their rapid growth and justify elevated valuations. 95 a barrel after Trump said the US would attack Iran ahead of November's midterm elections. Treasuries extended gains from the previous session, while the Dollar weakened.
1% to around $4,175 an ounce. 025%. The Yuan strengthened as hopes of easing Middle East tensions supported Asian currencies against the Dollar. Meanwhile, China's central bank rejected claims that the Yuan was undervalued ahead of trade discussions with the EU, where officials have increasingly raised concerns over exchange rates and trade imbalances.
Attention also remained on the financial performance of major AI companies, including OpenAI and Anthropic, which frequently highlight annualized revenue as a key growth measure. Investors continued to scrutinize these projections as questions persisted over the sustainability of AI investment and the sector's ability to generate returns.