Stock Market Today: Nasdaq 100 Rebounds From OpenAI Scare, T-Mobile Tumbles 12%
U.S. stocks edged higher by midday Friday, with the Nasdaq rebounding from Thursday’s setback sparked by concerns over OpenAI’s weaker-than-expected revenue, while the wireless carriers were hammered by a Space Exploration Technologies Corp. (NASDAQ: SPCX ) spectrum deal. SpaceX said Thursday it acquired a nationwide 800 MHz spectrum portfolio from Grain Management, a deal that still needs FCC approval. The Wall Street Journal reported a price of $8 billion in cash. The FCC also approved plans for 15,000 Starlink Mobile Gen2 satellites, and SpaceX’s COO said the company plans to target existing wireless customers. T-Mobile US Inc. (NASDAQ: TMUS ) tumbled 12.2%, AT&T Inc. (NYSE: T ) sank 11.2% and Verizon Communications Inc. (NYSE: VZ ) lost 11.1%. Charter Communications Inc. (NASDAQ: CHTR ) fell 5.9% and Comcast Corp. (NASDAQ: CMCSA ) dropped 3.0%, trading in sympathy with the group. Millicom International Cellular S.A. (NASDAQ: TIGO ) slid 6.7% and AST SpaceMobile Inc. (NASDAQ: ASTS ) plunged 14.6%. The S&P 500 rose about 0.5% to 7,801 and the Dow Jones Industrial Average advanced 318 points, or 0.6%, to 51,550. The Nasdaq 100 gained about 0.4% to 30,844. The Russell 2000 rose 0.4
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S. stocks edged higher by midday Friday, with the Nasdaq rebounding from Thursday’s setback sparked by concerns over OpenAI’s weaker-than-expected revenue, while the wireless carriers were hammered by a Space Exploration Technologies Corp. (NASDAQ: SPCX ) spectrum deal. SpaceX said Thursday it acquired a nationwide 800 MHz spectrum portfolio from Grain Management, a deal that still needs FCC approval.
The Wall Street Journal reported a price of $8 billion in cash. The FCC also approved plans for 15,000 Starlink Mobile Gen2 satellites, and SpaceX’s COO said the company plans to target existing wireless customers. T-Mobile US Inc. 2%, AT&T Inc.
2% and Verizon Communications Inc. 1%. Charter Communications Inc. 9% and Comcast Corp.
0%, trading in sympathy with the group. A. 7% and AST SpaceMobile Inc. 6%.
6%, to 51,550. 4% to 30,844. 4% to 2,804. S.
is “having productive discussions” with Tehran. S. response to its seven-day plan to reopen the Strait of Hormuz and will reply within days, leaving investors with a partial, but far from complete, easing of Middle East supply fears. Oil held near the lower end of its recent range.
West Texas Intermediate crude traded flat at around $91 per barrel, roughly 11% below its start-of-month level, while Brent hovered near $104. 26% after falling roughly 6 basis points on Thursday from its highest level since 2002. Markets price about an 81% chance the Federal Reserve holds rates steady this month, with a December hike still being debated. Data showed a gloomy consumer.
1 in September, missing expectations and marking the second-lowest reading on record. 7. 4%. 4% to roughly $4,190 per ounce, though the metal remains about 3% below its start-of-month level.
0%. 5% slide from Wednesday’s close near $85,600. 5%. 6%.
4%. 4%. 1%. 9%, the only sector in the red alongside consumer staples.
3%. 2%. 7%. Humana Inc.
P. Morgan expected. 8 billion in bonus payments in 2028. Moderna Inc.
95 intraday, as its return to the Nasdaq-100, replacing Warner Bros. Discovery, drew index-fund buying. Investors are also eyeing Phase 3 data for intismeran autogene, developed with Merck, due Oct. 24, and the appointment of Juan Andres as chief operating officer.
Tower REITs ran against the carriers: Crown Castle Inc. 5%, American Tower Corp. 6% and SBA Communications Corp. 0%.
3M a Day As 9 Shipping Stocks Double in 2026 Friday’s Russell 1000 Top Gainers Name % change Crown Castle Inc. 52% Humana Inc. 18% Aura Minerals Inc. 14% Moderna, Inc.
64% Friday’s Russell 1000 Top Losers Name % change AST SpaceMobile, Inc. 59% T-Mobile US, Inc. 16% AT&T Inc. 19% Verizon Communications Inc.
A. 71% Image: Shutterstock