US stock futures moved higher on Friday as investors attempted to stabilise after Thursday’s tech-led sell-off, with easing oil prices and a partial rebound in AI shares improving risk appetite.
Dow futures were up 0.17%, S&P 500 futures gained 0.4% and Nasdaq 100 futures rose 220 points or 0.72%. Nvidia climbed 1.6% premarket, while Tesla and Amazon added about 1% each.
The rebound comes after the Nasdaq fell 1.25% on Thursday, even as the Dow edged higher. Bond yields remain elevated, and several large single-stock moves are setting up a volatile open.
5 things to know before Wall Street opens
1. Oil gives equities some relief
Brent crude slipped about 1% to around $103 a barrel after Donald Trump said the US would not attack Iran before the November midterm elections. WTI also retreated towards $90.
The move helps equities after Thursday’s oil surge revived inflation concerns, but crude remains high enough to keep pressure on corporate margins and interest-rate expectations.
2. Treasury yields remain the bigger valuation test
The 10-year Treasury yield was around 5.25%, below Wednesday’s 5.364% peak but still close to a 24-year high. That leaves expensive growth stocks sensitive to any renewed bond selling.
Investors will also watch the University of Michigan’s preliminary October consumer-sentiment reading at 10 am ET, with inflation expectations likely to matter as much as the headline index.
3. AI stocks try to shake off the OpenAI scare
The sector is attempting a rebound after the Financial Times reported that OpenAI’s annualised September revenue was close to $50 billion, well below the $70 billion figure previously circulating.
A subsequent report said the company still expects to reach or exceed a $70 billion run rate by year-end, helping Nvidia and other AI-linked names recover before the bell.
4. SpaceX is forcing investors to rethink telecom valuations
SpaceX stock rose after the company agreed to buy roughly $8 billion of low-band spectrum from Grain Management, strengthening Starlink’s push into mobile services. AT&T, Verizon and T-Mobile fell sharply in premarket trading.
For investors seeking broader exposure to telecom or space-related themes through funds, it can also be useful to compare ETF platforms before deciding where to invest.
Citi analyst Michael Rollins argued that the telecom sell-off looked excessive, with a meaningful financial impact from SpaceX unlikely to emerge before at least 2029.
5. Two company stories could shape the open
Apple fell nearly 2% after Nikkei Asia reported that October component orders for the iPhone 18 Pro and Pro Max had been cut by at least 15%.
Morgan Stanley analysts said they had not detected major supply-chain changes and kept their earnings estimates broadly intact.
Humana jumped after saying 95% of its Medicare Advantage members are enrolled in plans rated four stars or higher for 2027.
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