Global Markets:
● Asian Stock Markets : Nikkei down 0.20%, Shanghai Composite down 1.21% Hang Seng up 0.96% ASX up 0.56%
● Commodities : Gold at $4,203.65 (1.12%) Silver at $60.480 (1.77%), Brent Oil at 102.84 (-1.38), WTI Oil at 90.36 (-1.24%)
● Rates : US 10-year yield at 5.219, UK 10-year yield at 5.4852, Germany 10-year yield at 3.4937
News & Data:
● (USD) Unemployment Claims
197K to 200K expected
Markets Update:
U.S. stock futures were little changed on Thursday evening after a weaker-than-expected revenue figure from OpenAI raised concerns about the artificial intelligence sector’s growth prospects.
S&P 500 futures edged up 0.09%, while Nasdaq 100 futures gained 0.05%. Dow Jones Industrial Average futures advanced 23 points, or 0.04%.
Asian markets were mixed on Friday. Japan’s Nikkei 225 fell more than 1%, while the Topix declined 0.2%. Australia’s S&P/ASX 200 rose 0.37%, and Hong Kong’s Hang Seng Index gained 0.7%. Mainland China’s CSI 300 slipped 0.48%.
AI-related stocks came under pressure on Thursday after reports indicated that OpenAI had generated $50 billion in annualized revenue by the end of September, below the widely reported $68 billion figure. The higher estimate reportedly included gross revenue from partners.
CoreWeave plunged more than 7%, while Oracle, Intel and Super Micro Computer lost around 5%. AMD declined nearly 4%, and Nvidia fell almost 3%.
The sell-off pushed the Nasdaq Composite down more than 1%, marking its biggest single-day decline since mid-August. The S&P 500 lost 0.5%, recording its second consecutive session of losses, while the Dow finished slightly higher.
Meanwhile, SpaceX shares gained 2% in extended trading after announcing a deal to acquire a nationwide spectrum portfolio. Shares of AT&T, Verizon and T-Mobile fell amid concerns about increased competition.
Investors will watch Delta Air Lines’ earnings and October consumer sentiment data on Friday.
Upcoming Events:
● 12:30 PM GMT – CAD Employment Change
● 2:00 PM GMT – USD Prelim UoM Consumer Sentiment
