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Stocks rise as tech shares rebound following sell-off: Live updates

Stock futures rose as technology shares rebounded from an earlier sell-off driven by confusion surrounding OpenAI financial reports. Major indexes previously retreated from records due to bond market jitters and Federal Reserve anticipation, while international markets experienced fluctuating conditions. Indian equities staged a strong recovery led by IT stocks, though domestic markets later faced pressure from rising crude oil prices and foreign institutional investor selling. Investors continue to monitor corporate earnings reports alongside broader economic headwinds.

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  • ✓ S&P 500 futures rose as tech shares rebounded following a sell-off.
  • ✓ The Sensex surged 1,109.10 points to 73,033.78 and the Nifty 50 rose 358.60 points to 22,721.95 on October 13, driven by IT stocks.
  • ✓ OpenAI reported expecting $70 billion in annualized revenue by the end of 2026.
  • ✓ Nvidia and Micron shares fell initially due to reports on OpenAI revenue before bouncing back.
🛡️ Source Corroboration: 16 independent reporting domains (90% confidence) ⏱ Read time: ~2 min

What changed

Stock futures rose following a tech sector rebound after earlier turbulence caused by OpenAI revenue disclosures.

Live updates

  1. US Stock Futures Rise Following Tech Shares Rebound

    Stock futures rose as technology shares rebounded from an earlier sell-off driven by confusion surrounding OpenAI financial reports. Major indexes previously retreated from records due to bond market jitters and Federal Reserve anticipation, while international markets experienced fluctuating conditions. Indian equities staged a strong recovery led by IT stocks, though domestic markets later faced pressure from rising crude oil prices and foreign institutional investor selling. Investors continue to monitor corporate earnings reports alongside broader economic headwinds.

    Why it matters

    Global financial markets experienced heavy volatility following conflicting revenue reports regarding artificial intelligence leader OpenAI, which initially rattled major chipmakers like Nvidia and Micron before rebounding on higher revenue targets. Concurrently, broader markets contended with shifting bond yields, fluctuating oil prices tied to geopolitical events, and domestic inflation concerns. These compounding factors have left investors sensitive to incoming earnings data and central bank policy signals.

    What is confirmed

    • S&P 500 futures rose as tech shares rebounded following a sell-off.
    • The Sensex surged 1,109.10 points to 73,033.78 and the Nifty 50 rose 358.60 points to 22,721.95 on October 13, driven by IT stocks.
    • OpenAI reported expecting $70 billion in annualized revenue by the end of 2026.
    • Nvidia and Micron shares fell initially due to reports on OpenAI revenue before bouncing back.

    Still unconfirmed

    • OpenAI annualized revenues were $20bn less than previously signalled according to initial reports.

    What to watch next

    • Upcoming major bank earnings reports
    • Federal Reserve policy decisions and minutes
    • Developments in Middle East tensions and crude oil prices
    Sources used for this update (22)
    1. www.thehindubusinessline.com — Stock Market Highlights, Oct 5: Sensex rises 472 pts to end at 72,382, Nifty settles at 22,555; ITC, Eter....
    2. www.zerohedge.com — S&P Set To Open At Record High As Oil Slides, Bond Rout Takes A Breather | ZeroHedge
    3. finance.yahoo.com — Stock market today: Dow falls, S&P 500 and Nasdaq retreat from records amid bond market jitters
    4. CNBC — S&P 500 futures are little changed after OpenAI's revenue report prompts tech sector turmoil: Live updates
    5. Financial Times — OpenAI annualised revenues $20bn less than previously signalled
    6. Reuters — OpenAI's annualized revenue $20 billion less than previously signaled, FT reports
    7. www.cnbc.com — Stock market today: Live updates - CNBC
    8. Yahoo Finance — OpenAI Expects $70 Billion in Annualized Revenue by End of 2026
    9. MarketWatch — Micron, Nvidia and AI chip stocks fall as report on OpenAI’s revenue causes ‘undue concern’
    10. The New York Times — The Fallout From OpenAI’s Revenue Surprise
    11. Investor's Business Daily — Stock Market Today: Dow Rises As Apple Sells Off; Delta Slides On Earnings Miss (Live Coverage)
    12. Quartz — Nasdaq rises after OpenAI revenue report rattles AI stocks
    confidence 90%
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