Dow, S&P 500 and Nasdaq open higher as tech stocks rebound
Crypto Briefing 2026-10-09 13:38:20
Context: On Thursday, October 9, 2026, US stocks opened higher, with the Dow, S&P 500, and Nasdaq all moving up as technology shares rebounded from a significant decline on Wednesday. The turnaround was driven by conflicting reports on OpenAI's revenue, which had a substantial impact on tech stocks. The market's fluctuation was also influenced by a decline in Brent crude futures.
Key Facts
- OpenAI's annualized revenue stood at around $50 billion at the end of September, according to a Financial Times report, which was lower than earlier expectations of $70 billion.
- A subsequent Bloomberg report stated that OpenAI anticipated reaching or exceeding the $70 billion mark by year-end, helping to lift tech stocks.
- The Nasdaq Composite dropped 345.35 points, or 1.25%, to close at 27,193.34 on Wednesday, after the initial OpenAI revenue report.
- Brent crude futures declined toward $102 per barrel, as concerns about supply disruptions in the Middle East cooled, contributing to the market's recovery.