US Equity Futures Higher Pre-Bell as Traders Assess OpenAI Revenue Updates
MT newswire2026/10/09 12:0108:01 AM EDT, 10/09/2026 (MT Newswires) -- US equity futures edged higher pre-bell Friday as traders assessed the latest revenue updates of OpenAI, an indicator of demand in artificial intelligence-related sectors. Dow Jones Industrial Average futures were 0.1% higher, S&P 500 futures were up 0.4%, and Nasdaq futures were 0.8% higher. OpenAI told investors that it reached around $50 billion in annualized revenue at the end of September, according to multiple reports late Thursday. The ChatGPT creator also expects annualized revenue to exceed $70 billion by the end of 2026, Bloomberg reported. President Donald Trump said the US will not be attacking Iran before the midterm elections in November. "We are having productive discussions with the Islamic Republic of Iran," Trump said in a post on Truth Social. Traders also digested the latest round of earnings, as Delta Air Lines (DAL) posted higher Q3 adjusted earnings and total revenue that fell short of expectations. Oil prices were lower, with front-month global benchmark North Sea Brent crude down 1.6% at $102.59 per barrel and US West Texas Intermediate crude 1.2% lower at $90.37 per barrel. The University of Michigan consumer sentiment index for October, slated for 10 am ET, is expected at 47.6, down from 48.1 previously, according to estimates compiled by Bloomberg.
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BUZZ - Bank of America downgraded the rating of Smithfield Foods to "Neutral," causing the stock price to drop
October 9 – ** Smithfield Foods (SFD.O), a pork producer, saw its share price fall by 2%, closing at $18.51 ** Bank of America downgraded the stock from “buy” to “neutral,” and adjusted the price target from $25 down to $21 ** The brokerage cited deteriorating fundamentals in the hog industry: weak demand for pork belly and ham, declining lean hog futures prices, and persistently high feed costs have led to expectations of reduced hog profits ** They expect the packaged meats segment to remain stable and stated that a recovery in the hog industry or a significant rise in packaged meats profits would make them more optimistic about the stock ** Out of seven brokerages, four rate the stock “buy” or higher, and the remainder rate it “hold”; according to LSEG data, the median price target is $28 ** As of the previous trading day’s close, the stock is down approximately 15% year to date. (For convenience of non-English speakers, Reuters automatically translates its reports into several other languages. Because automated translation may result in errors or lack necessary context, Reuters does not guarantee the accuracy of automatically translated texts, which are provided solely for readers’ convenience. Reuters assumes no responsibility for any damage or loss arising from the use of automated translation features.)
BUZZ-US mobile base station operators' share prices soar after SpaceX acquires spectrum
On Friday, after SpaceX's SPCX.O completed a nationwide acquisition of low-frequency spectrum, shares of U.S. mobile tower operators surged, enabling Elon Musk's Starlink Mobile to challenge traditional wireless giants. Crown Castle (CCI.N) jumped 11.2% to $76.61, on track for its largest single-day gain since March 2020. American Tower (AMT.N) rose 7% to $178.34, poised for its biggest increase in two years, while SBA Communications (SBAC.O) climbed 6.2% to $180.58. Tower stocks rallied as investors bet SPCX’s ambitions in wireless service could drive new demand for terrestrial infrastructure, leading to sharp declines in the shares of telecom giants AT&T (T.N), Verizon (VZ.N), and T-Mobile US (TMUS.O). JPMorgan said the deal was “incrementally positive” for tower operators, noting it could require deploying towers, rooftop sites, and small cells, while broader urban competition would call for a significant boost in terrestrial infrastructure and spectrum. Amid these developments, CCI is down about 14% year-to-date, SBAC is down roughly 6.5%, and AMT is up nearly 2% in 2026. By comparison, the S&P 500 Real Estate Investment Trusts Index (.SPLRCREC) has gained about 6% so far this year.
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