FX.co ★ US Futures Stabilize After Tech Selloff

US stock futures were little changed on Friday after major indexes declined in the previous session, as technology shares retreated on reports that OpenAI’s revenue came in below earlier projections. On Thursday, the S&P 500 and Nasdaq Composite fell 0.47% and 1.25%, respectively, posting a second straight session of losses, while the Dow Jones Industrial Average inched up 0.1%.

New reports indicated that OpenAI’s annualized revenue reached about $50 billion at the end of September, undershooting the widely cited $68 billion figure reported last month. Semiconductor stocks led the downturn, with Micron losing 4.8%, Nvidia 2.9%, Sandisk 4.9%, AMD 3.9%, and Intel 5.3%.

In contrast, SpaceX climbed more than 4% in after-hours trading after unveiling a deal to acquire a nationwide spectrum portfolio. Investors are now focused on October US consumer sentiment data and upcoming earnings releases from Delta Air Lines and BlackRock.