Advertisment
U.S. stock futures edged higher Friday, led by tech, following a losing session in which an underwhelming revenue report from OpenAI took some steam out of the high-flying artificial intelligence trade.
Futures for the Dow Jones Industrials gained 71 points, or 0.2%, early Friday to 51,564.
Futures for the S&P 500 jumped 30.5 points, or 0.4%, to 7,846,75.
Futures for the NASDAQ Composite galloped 247.5 points, or 0.8%. to 31,217.
Tech shares broadly were led by a 3% gain in SpaceX. The Elon Musk-led space and satellite company rose on a deal to buy a nationwide spectrum portfolio.
Shares of AT&T, Verizon and T-Mobile slid as investors wondered worried the agreement could drive up competition.
Other tech names that advanced on Friday include Lumentum, ahead 6%, and KLA, which gained 2%.
AI stocks dropped on Thursday after the media confirmed that OpenAI told investors that it saw $50 billion in annualized revenue at the end of September.
Last month, a $68-billion figure was widely reported, though a person familiar with the matter said it also included gross revenue from partners.
In Japan, the Nikkei 225 inched up 0.02%, while in Hong Kong, the Hang Seng grew 1.8%.
Oil prices removed 93 cents to $90.56 U.S. a barrel.
Gold prices zoomed $52.70 to $4,209.70 U.S an ounce.
