Futures rebound, oil slips, telecoms tumble
Five things to know before the open on Friday, October 9.
Toast & Tickers · Friday, October 9, 2026 · 8:00 AM ET
Five things to know before the open.
1. Futures point higher after Thursday's tech selloff
US stock futures were modestly higher early Friday. Seeking Alpha put Nasdaq futures up about 0.9%, S&P 500 futures up about 0.4% and Dow futures up under 0.1% at 4:25 AM ET, and FXStreet showed a similar pattern. Thursday's close: S&P 500 7,765.36, Dow 51,231.64, Nasdaq 27,193.34 (AP). Read Thursday's Dusk Ledger.
2. OpenAI: a revenue follow-up
The Financial Times and Bloomberg Law reported that OpenAI's annualised revenue is roughly $50 billion, below a figure near $70 billion that had circulated. Bloomberg, citing people familiar with the matter, then reported late Thursday that OpenAI expects to reach or exceed $70 billion in annualised revenue by the end of the year, and that it was about $50 billion at the end of September. The year-end projection is reported by Bloomberg, citing unnamed people, and is not independently confirmed by Ticker Den. OpenAI declined to comment, per Bloomberg. Annualised revenue is a run rate, not reported revenue. Our earlier story.
3. Oil slips after Trump rules out a pre-election strike on Iran
Brent crude traded around $103 a barrel on Friday, down from Thursday's $104.28 settlement, after President Trump said the US would not attack Iran before the November 3 midterm elections and that talks with Tehran were productive, according to Reuters, the Wall Street Journal and Anadolu Agency. Brent remains up for the week and supply risks remain. Thursday's oil story.
4. Telecom stocks fall on SpaceX spectrum deal
SpaceX announced an agreement on Thursday to buy a nationwide spectrum portfolio from Grain Management, up to 14 megahertz of paired 800 MHz spectrum, subject to FCC approval, according to CNBC. AT&T, Verizon and T-Mobile shares fell roughly 5% to 7% in premarket trading, per Yahoo Finance and TipRanks. SpaceX shares rose about 4% premarket.
5. On the calendar
The University of Michigan's preliminary October consumer sentiment reading is due at 10:00 AM ET. Forecasters expect 47.6, down from 48.1 in September (FXStreet, Admirals). Next week: the biggest US banks report earnings Tuesday, October 13 (Reuters), and September CPI is due Wednesday, October 14 at 8:30 AM ET (Bureau of Labor Statistics).