TLDR
- US stock futures rose Friday as oil prices fell and tech stocks bounced back from a sharp Thursday selloff.
- Dow futures gained 0.1%, S&P 500 futures rose 0.3%, and Nasdaq-100 futures jumped 0.8%.
- AI stocks had tumbled Thursday after reports said OpenAI’s revenue fell short of expectations, but a later report said the company expects higher numbers by year end.
- Brent crude oil futures dropped to $103 a barrel, helping lift broader market sentiment.
- Delta Air Lines reports earnings Friday morning, kicking off the unofficial start of earnings season.
US stock futures edged higher on Friday morning. Traders saw relief after a rough session the day before. Falling oil prices and a rebound in tech stocks helped lift the mood.
Futures tied to the Dow Jones Industrial Average rose 0.1%. S&P 500 futures added 0.3%. Nasdaq-100 futures gained 0.8%, recovering some ground after Thursday’s drop.
What Sparked Thursday’s Tech Selloff
The selloff began after the Financial Times reported that OpenAI’s annualized revenue reached $50 billion. That number came in about $20 billion below what many investors had expected.
OPENAI’S ANNUALIZED REVENUE NEARS $50B, BELOW EARLIER $70B REPORTS: FT
OpenAI recently told investors its annualized revenue was approaching $50B at the end of September, roughly $20B below the figure widely reported last month.
The discrepancy reportedly stems from differences… https://t.co/jDH3owKj6u pic.twitter.com/Ot58ardKw4
— Wall St Engine (@wallstengine) October 8, 2026
CNBC later confirmed the figure, noting it was tied to the end of September. A separate report last month had cited a $68 billion figure, but that number included gross revenue from partner companies, according to a person familiar with the matter.
The news hit artificial intelligence stocks hard. CoreWeave fell more than 7%. Oracle, Intel, and Super Micro Computer each dropped around 5%.
Advanced Micro Devices slid close to 4%. Nvidia lost nearly 3% as investors reacted to the weaker than expected revenue figure.
Kristina Hooper, chief market strategist at Man Group, spoke about the drop on CNBC’s “Closing Bell: Overtime.” She said a string of days like Thursday could lead to a steeper decline across AI related stocks.
The Nasdaq Composite dropped more than 1% on Thursday. That marked its biggest one day loss since mid August and its second straight losing session.
A Later Report Helped Calm Investors
Bloomberg later reported that OpenAI expects its annualized revenue to reach or exceed $70 billion by the end of the year. That update helped ease concerns that the AI industry was slowing down.
The report gave tech stocks room to recover on Friday. Nasdaq-100 futures rose 0.8% following the news.
The S&P 500 had fallen 0.5% on Thursday, marking its second day in a row in negative territory. The Dow Jones Industrial Average avoided the drop and closed the day slightly higher.
For the week, the Dow and Nasdaq Composite are both close to flat. The S&P 500 is on track for a weekly gain of 0.6%.
Falling oil prices also supported stocks on Friday. Brent crude oil futures, the international benchmark, fell to $103 per barrel.
In Asia, Japan’s Nikkei 225 was little changed. Mainland China’s CSI 300 rose 0.16%, and Australia’s S&P/ASX 200 gained 0.64%. Hong Kong’s Hang Seng index climbed 1.4% in its final hour of trading.
Shares of SpaceX rose 2% in extended trading after the company announced a deal to buy a nationwide spectrum portfolio. Shares of AT&T, Verizon, and T-Mobile fell as investors weighed the possibility of increased competition.
Delta Air Lines reports third quarter earnings before the opening bell on Friday. Higher fuel costs are expected to weigh on the airline’s profit.
Delta’s report also marks the unofficial start of earnings season. Major Wall Street banks are set to release their results next Tuesday.
Consumer sentiment data for October is also expected Friday morning. The University of Michigan survey will offer a look at how shoppers felt during a month of oil price swings.
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