Live News CENTRAL_BANK ARTICLE H impact Oct 09, 2026, 11:33 AM UTC

Stocks Rebound & Oil Retreats as AI Concerns Ease - Europe Market Wrap

US stock futures advanced as oil prices retreated and concerns over the sustainability of AI investment eased. S&P 500 futures rose 0.4%, while Nasdaq 100 contracts gained 0.8%, signalling a potential rebound after two consecutive sessions of losses. An exchange-traded fund tracking chipmakers climbed 1.5% in premarket trading, supported by renewed optimism toward the technology sector. OpenAI expects to reach or exceed $70 billion in annualised revenue by year-end, helping ease concerns that its sales were falling short of earlier estimates. However, questions remain over whether companies can generate sufficient returns from substantial AI investments, particularly as borrowing costs rise. Santander AM warned that the main risk to the AI trade may be a gradual slowdown in growth or monetisation rather than a collapse in demand. Brent crude slipped to around $103 a barrel after Trump said the US would not attack Iran before the midterm elections, while also citing productive discussions with Tehran. The decline followed a two-week high in the previous session, when fears of escalating tensions in the Middle East supported prices. Elevated oil prices have weighed on equities by inc

SquawkNews Desk 1 updates Updated Oct 09, 2026, 11:38 AM UTC

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11:38:42 AM UTC

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By Callum Keown I asked ChatGPT whether the artificial-intelligence trade is a house of cards, and it said while parts of the AI boom look increasingly fragile the entire investment story is not. Well it would say that, wouldn't it? AI stocks fell sharply Thursday following a report that OpenAI's revenue may be $20 billion lower than expected. Wall Street has cast doubt on the discrepancy, enabling tech stocks to rebound Friday -- helped by falling oil prices. But the panic underscores just how exposed the entire AI trade is to OpenAI, Anthropic and others. Imagine what it'll be like when they actually go public. Whatever happens there will still be winners and losers -- SpaceX looks like the former, while AT&T, T-Mobile and Verizon may fall into the latter category. Inflation may create just as many losers in the months ahead. Delta Air Lines cut its guidance as fuel costs have started to get ridiculous. Apple may also be running into trouble after hiking iPhone 18 Pro prices. This stock market rally isn't a house of cards, but the foundations are starting to look a little shaky. You can subscribe to the Barron's Daily newsletter here. We want to hear from you! Send us your feedback at thebarronsdaily@barrons.com 📈 Here's what's happening in markets today: Dow set to open up as markets rebound. SpaceX, Verizon, Delta, Humana, and more stocks that explain today's market. Nvidia stock gains but IPO worries are rocking the AI market. Apple stock falls. Why iPhone prices are a big problem. Why AT&T and telecom stocks' SpaceX slump is a buying opportunity. Delta Air Lines falls after earnings. The impact of surging fuel prices laid bare. Micron is range-bound in choppy AI trade. What could change that. OpenAI confusion sends a warning to markets. Chip stocks are rebound. Two reasons SpaceX stock is jumping today. 🛢? Oil reserves are dwindling, and the cushion is 'scarily thin' A deadly attack on a tanker in the Persian Gulf pushed oil prices to their highest levels in weeks, but there's another issue that's causing worry. Globally, oil reserves are dwindling while demand from China is starting to rebound. Saudi Aramco CEO Amin Nasser said the supply resilience cushion is "scarily thin." For more read here. 🏦 American Express fined over anti-money-laundering weakness Federal bank regulators fined American Express $350 million for failing to have adequate anti-money-laundering safeguards, a weakness they said caused it to process some $13 billion in suspicious transactions over a decade. American Express identified areas to improve, but noted the agreement didn't impose an asset cap, escaping a harsher punishment. 🌐 Administration takes aim at tech with visa crackdown The Trump administration is suspending tech companies, including Microsoft, from a program that allows skilled foreign workers to obtain permanent residency. It's also bad news for tech companies like Infosys, which historically has served as a key talent bridg

US stock futures advanced as oil prices retreated and concerns over the sustainability of AI investment eased. 8%, signalling a potential rebound after two consecutive sessions of losses. 5% in premarket trading, supported by renewed optimism toward the technology sector. OpenAI expects to reach or exceed $70 billion in annualised revenue by year-end, helping ease concerns that its sales were falling short of earlier estimates.

However, questions remain over whether companies can generate sufficient returns from substantial AI investments, particularly as borrowing costs rise. Santander AM warned that the main risk to the AI trade may be a gradual slowdown in growth or monetisation rather than a collapse in demand. Brent crude slipped to around $103 a barrel after Trump said the US would not attack Iran before the midterm elections, while also citing productive discussions with Tehran. The decline followed a two-week high in the previous session, when fears of escalating tensions in the Middle East supported prices.

Elevated oil prices have weighed on equities by increasing pressure on interest-rate expectations, offsetting some of the support from strong corporate earnings. Treasuries resumed losses following a volatile session that saw yields retreat from multidecade highs. 25% on Friday, reflecting persistent pressure in bond markets. Meanwhile, the Dollar remained relatively unchanged but was on course for a fourth consecutive weekly gain.

3%. French stocks outperformed, while the region's bonds rallied alongside gains in US Treasuries late in the previous session. French assets had faced pressure throughout the week amid concerns over fiscal stability and political gridlock.