Stocks Rise Pre-Bell Following Tech Selloff

07:48 AM EDT, 10/09/2026 (MT Newswires) -- The benchmark US stock measures pointed higher before the open Friday following a selloff in technology shares in the previous session, while investors await major earnings reports scheduled for next week. The S&P 500 rose 0.4%, the Dow Jones Industrial Average increased 0.2%, and the Nasdaq 100 rose 0.8% in premarket activity. The S&P 500 and Nasdaq Composite closed the previous trading session down for the second straight day, while the Dow finished green. Major technology stocks fell Thursday following a report from the Financial Times that OpenAI's annualized revenue stood at roughly $50 billion in September, below prior investor estimates of $70 billion. Nvidia (NVDA) closed Thursday down 2.9%, while Oracle (ORCL), Micron Technology (MU) and Broadcom (AVGO) fell 5.5%, 4.8% and 4.4%, respectively. Nvidia and Micron rebounded in Friday's premarket trading as Bloomberg reported that OpenAI expects to reach or exceed $70 billion in annualized revenue by year-end, citing people familiar with the matter. Wall Street's banking heavyweights, including JPMorgan Chase (JPM), Bank of America (BAC), Goldman Sachs (GS), Morgan Stanley (MS), Wells Fargo (WFC) and Citigroup (C), are expected to release their third-quarter results next week, along with major healthcare corporations such as Johnson & Johnson (JNJ) and UnitedHealth (UNH). Investors will also be eyeing fresh inflation data due next week, including September consumer price index and wholesale producer price data. Treasury yields were trending higher early Friday, with the two-year rate inclining 3.3 basis points to 4.79% and the 10-year rate gaining 2.2 basis points to 5.26%. In a social media post on Thursday, President Donald Trump said the US won't be launching strikes against Iran at any time before the mid-term elections next month. Trump added that his administration is having "productive discussions" with Tehran. Trump's post comes after NBC News reported earlier in the week that Trump and his national security team were weighing large-scale military operations against Iran. Iranian Foreign Minister Abbas Araqchi said on Thursday that Tehran is reviewing the US response to its proposal to reopen the Strait of Hormuz within seven days, CNBC reported, citing Iran's Tasnim news agency. West Texas Intermediate crude oil declined 0.9% to $90.69 a barrel, while Brent decreased 1.2% to $103. Shares of SpaceX (SPCX) advanced 4.1% before the opening bell after the rocket and satellite company agreed to acquire a nationwide low-band spectrum portfolio from investment firm Grain Management as it seeks to establish Starlink Mobile as a major US mobile carrier. SpaceX will pay about $8 billion in cash for the assets, The Wall Street Journal reported Thursday, citing people familiar with the matter. Telecommunication stocks were down before the bell, with Verizon Communications (VZ) off 5.3%, AT&T (T) slipping 6.2% and T-Mobile US (TMUS) dropping 6.6%. Delta Air Lines (DAL) reported third-quarter adjusted earnings and revenue below market expectations and cut its full-year bottom-line outlook. Friday's economic calendar has the preliminary University of Michigan's consumer sentiment report for October at 10 am ET, followed by the weekly Baker Hughes oil-and-gas rig count at 1 pm. Spot gold climbed 1.3% to $4,210 per troy ounce, while bitcoin rose 1.1% to $82,578.