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Nvidia and Micron Stocks Bounce on OpenAI $70B Revenue Target
Nasdaq-100 futures rose 0.8% and S&P 500 futures gained 0.4% as a Bloomberg report eased concerns about OpenAI's revenue outlook.
- On Friday, October 9, Nasdaq-100 futures rose 0.8% as technology shares led gains following the previous session's sell-off, with Dow Jones Industrial Average futures advancing around 0.2%.
- Technology stocks rebounded after Thursday's concerns over OpenAI's revenue growth; Bloomberg reported the company expects to reach or exceed $70 billion in annualised revenue, easing artificial intelligence spending concerns.
- The Technology Select Sector SPDR Fund rose around 1% in premarket trading, while SpaceX shares gained following a deal to acquire a nationwide spectrum portfolio.
- Brent crude oil futures fell to around $103 a barrel, offering support to equity markets, while Treasury yields remained stable amid the broader market recovery.
- President Donald Trump pledged to refrain from attacking Iran until after midterm elections, providing geopolitical stability that supported Treasury yield resilience on Friday.
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13 Articles
13 Articles
Coverage Details
Total News Sources13
Leaning Left0Leaning Right3Center2Last UpdatedBias Distribution60% Right
Bias Distribution
- 60% of the sources lean Right
60% Right
C 40%
R 60%
Factuality
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