U.S. stock futures were near flat Thursday night after an underwhelming revenue report from OpenAI took some steam out of the high-flying artificial intelligence trade.
S&P 500 futures were up 0.09%, while Nasdaq 100 futures added 0.05%. Dow Jones Industrial Average futures advanced 23 points, or 0.04%.
In Asia on Friday, Japan’s Nikkei 225 lost 0.76%, while the Topix was little changed. Australia’s S&P/ASX 200 added 0.37%.
Shares of SpaceX rose 2% in extended trading after the rocket company announced a deal to buy a nationwide spectrum portfolio. Shares of AT&T, Verizon and T-Mobile slid as investors wondered worried the agreement could drive up competition.
AI stocks dropped on Thursday after CNBC confirmed that OpenAI told investors that it saw $50 billion in annualized revenue at the end of September. A $68 billion figure was widely reported last month, though a person familiar with the matter said it also included gross revenue from partners.
CoreWeave fell more than 7%, while Oracle, Intel and Super Micro Computer all lost around 5%. Advanced Micro Device slid close to 4%, while Nvidia shed almost 3%.
“If we have a number of days like this … we could see a real rout in AI-related names,” said Kristina Hooper, chief market strategist at Man Group, on CNBC’s “Closing Bell: Overtime.” “That could sour investors.”
The Nasdaq Composite dropped more than 1%, marking its biggest one-day loss since mid August. Thursday marked the second down day in a row for the tech-heavy index after it climbed to fresh all-time records earlier in the week.
Tech’s troubles dragged down the S&P 500 to a 0.5% loss, marking its second straight day in the red. But the blue-chip Dow bucked the downtrend, with the 30-stock index ending the session slightly above flat.
The Dow and Nasdaq Composite are both around flat week to date. The broad S&P 500 is on track for a gain of 0.6% for the week.
Investors will monitor Delta Air Lines earnings before the bell on Friday. Consumer sentiment data for October is also expected in the morning.
Japan’s Nikkei opens lower as tech stocks fall after Wall Street AI sell-off
Asia-Pacific markets opened subdued on Friday.
Japan’s Nikkei 225 lost 0.76%, while the Topix was little changed. Australia’s S&P/ASX 200 added 0.37%.
Japanese tech stocks were largely lower, tracking tech stock losses in the U.S. as investors assessed OpenAI’s underwhelming revenue report.
Shares of SoftBank Group declined over 6%. Chip manufacturer Advantest fell 1.81%, while Tokyo Electron lost 1.52%. Renesas Electron fell 3.5%.
South Korean markets are closed for a holiday.
— Lee Ying Shan
Asia markets set for subdued open after Wall Street falls on AI jitters, Middle East tensions
Asia-Pacific markets were set for a subdued open Friday as renewed doubts over the artificial intelligence boom and lingering geopolitical tensions in the Middle East dent investor sentiment.
Japan’s Nikkei 225 was set to fall at open, with its Chicago and Osaka futures contracts last at 68,515 and 68,390 respectively, compared with the index’s previous close of 69,042.11.
Futures for Hong Kong’s Hang Seng index stood at 23,802, higher than its last close of 23,785.79.
Australia’s S&P/ASX 200 added 0.44% in its first hour of trade.
South Korean markets are closed for a holiday.
U.S. technology stocks came under pressure Thursday after fresh details about OpenAI’s revenue raised concerns over the artificial intelligence trade. Denting sentiment further, oil prices rose after President Donald Trump said he was not keen on making a deal with Iran to end the war.
— Lee Ying Shan
Individual investors a lot more bullish and a lot less bearish this week than recently
Main Street investors have grown a lot more bullish and a lot less bearish lately, according to the latest weekly survey by the American Association of Individual Investors.
Optimism toward the six-month outlook for stocks rose to 40.3% this week, the highest since mid-July, up from 34.6% last week and above the historical average of 37.5%.
Investors describing themselves as bearish dropped to 39.0% this week from 46.5% last week and 53.3%, the highest since May 2025, just three weeks ago. Historically, bears account for 31.5% of the survey and were last below that level in January 2026.
Mom-and-pop investors who characterize themselves as neutral about the six-month outlook for stocks rose to 20.8% in the latest week, from 18.9% last week. The historical average is 31.0%.
— Scott Schnipper
SpaceX rises after announcing spectrum portfolio deal; telecom stocks fall
SpaceX shares rose almost 3% in extended trading on Thursday after the rocket company unveiled an agreement to buy a nationwide spectrum portfolio.
Shares of AT&T, Verizon and T-Mobile tumbled as traders worried that they could lose market share as competition rises.
— Alex Harring, Lora Kolodny
Stocks making the biggest moves in after-hours trading: Humana, T-Mobile and Park Aerospace
Here are the companies making headlines in extended trading.
Telecom providers – Grain Management announced it has reached an agreement with SpaceX in which Elon Musk’s space company will purchase its nationwide 800 megahertz spectrum portfolio, a move that will bolster Starlink Mobile’s capabilities. T-Mobile dropped 6%, AT&T fell almost 7% and Verizon lost more than 6%.
Managed care providers – Insurers’ shares swung sharply after the Centers for Medicare & Medicaid Services rolled out its 2027 Star Ratings on its Medicare Plan Finder for open enrollment this fall. Shares of Humana surged 12% after the insurer’s largest Medicare Advantage contract saw its rating improve. Alignment Healthcare cratered 23%.
Park Aerospace – The manufacturer of composite materials for the aerospace market shed earlier gains and traded down 1%. Park Aerospace earned 21 cents per share on revenue of $20.8 million in the second quarter. That compares to 12 cents a share and $16.4 million in the year-ago period.
—Darla Mercado
Stock futures open little changed Thursday night
U.S. stock futures were little changed as the futures market opened in New York.
S&P 500 futures were up 0.02%, while the Nasdaq-100 futures added 0.1%. Dow futures were about flat.
—Darla Mercado
