Dow Jones futures rise as AI stocks rebound

[BRIEFING.COM] S&P futures vs fair value: +33.00. Nasdaq futures vs fair value: +234.00. Equity futures point to a higher open this morning, supported by a rebound in semiconductor and other AI-related stocks following yesterday's sharp selloff. A Bloomberg report indicating that OpenAI's annualized revenue is still expected to meet or exceed $70 billion has provided some relief after a Financial Times report yesterday suggested the figure could fall closer to $50 billion, raising concerns about the outlook for AI spending. Modestly lower crude oil prices and easing sovereign bond yields are also providing a more favorable backdrop for equities, helping sentiment recover following yesterday's technology-led decline. The S&P 500 and DJIA enter Friday's session with modest week-to-date gains, while the Nasdaq Composite is essentially flat for the week amid weakness in technology stocks. Still, there are a lot of moving parts in the energy market. Hurricane Isaias is expected to make landfall on the Gulf Coast this weekend as a Category 2 storm, according to the Weather Channel, and the preliminary October University of Michigan Consumer Sentiment Index is due at 10:00 a.m. ET. In corporate news: Humana ( HUM 443.00, +55.88, +14.43%) said 95% of its Medicare Advantage members are enrolled in plans rated four stars or better for 2027, including its pivotal 2.4 million-member contract, restoring eligibility for 2028 CMS bonuses. Apple ( AAPL 332.80, -7.62, -2.24%) told suppliers to reduce production of iPhone 18 Pro components due to weaker-than-expected demand following price increases, according to Nikkei. American Express ( AXP 303.00, -5.10, -1.66%) agreed to pay a $350 million penalty to resolve regulatory reviews. Delta Air Lines ( DAL 80.86, -1.28, -1.56%) missed the earnings consensus but beat revenue expectations, issued in-line fourth-quarter EPS guidance and guided revenue above consensus. Its full-year EPS midpoint was below consensus, though the CEO said bookings have not slowed. SpaceX ( SPCX 167.20, +6.63, +4.13%) agreed to acquire low-band spectrum licenses, prompting weakness in AT&T ( T 22.92, -1.96, -7.88%), Verizon ( VZ 42.82, -3.53, -7.62%), and T-Mobile US ( TMUS 158.43, -12.88, -7.52%). Reviewing overnight developments: According to Nikkei, Asian markets finished mixed as easing oil prices and bond yields helped equities recover from early weakness, while investors continued to scrutinize AI-related valuations. In news: Nikkei reported that updated expectations for OpenAI's annualized revenue helped Japanese equities recover much of their early weakness, although several technology names remained under pressure. Nikkei said attention in China remained on China-EU trade discussions and tensions involving rare earths and critical minerals. South Korean markets were closed for Hangul Day. In economic data: Japan's August Household Spending -3.1% yr/yr (expected -3.5%; prior -3.6%) and 0.1% m/m (expected 0.5%; prior 0.5%); September