US stock futures moved higher on Friday as investors assessed differing reports about OpenAI’s revenue outlook, awaited quarterly results from Delta Air Lines and prepared for new consumer sentiment data.
Developments in the Middle East, energy prices and telecommunications markets also remained in focus following a volatile session on Wall Street.
At 03:04 ET (07:04 GMT), Dow Jones Industrial Average futures were up 33 points, or 0.1%, while S&P 500 futures gained 25 points, or 0.3%. Nasdaq 100 futures advanced 243 points, equivalent to 0.8%.
The gains followed a mixed session on Thursday, when the Dow Jones Industrial Average rose 0.1%, while the S&P 500 declined 0.47% and the Nasdaq Composite fell 1.25%.
Technology shares faced pressure after the Financial Times reported that OpenAI (NASDAQ:OAI) had reached approximately $50 billion in annualised revenue at the end of September, below a previously indicated figure of $70 billion.
However, a separate Bloomberg News report said OpenAI expects its annualised revenue to reach or exceed $70 billion by the end of 2026, with enterprise customers expected to account for much of the growth.
The differing figures reflect separate reporting periods and projections, rather than necessarily indicating a direct contradiction between the company’s current revenue and year-end expectations.
Annualised revenue is closely monitored by investors assessing demand for artificial intelligence services and the scale of infrastructure investment required to support their expansion.
Questions remain about OpenAI’s path to profitability, with recent reports suggesting the company could record a full-year loss despite revenue growth.
The company has also reportedly projected cumulative cash consumption of $280 billion by 2030, highlighting the substantial financing requirements associated with AI infrastructure development.
Investor attention has increasingly focused on the use of debt financing to fund data centres, computing equipment and other infrastructure supporting artificial intelligence applications.
Delta Air Lines Earnings in Focus
Delta Air Lines (NYSE:DAL) is scheduled to report third-quarter financial results before the opening bell.
According to Bloomberg consensus estimates, analysts expect adjusted quarterly revenue of $17.66 billion and adjusted earnings per share of $1.82.
In July, Delta reaffirmed its full-year profit outlook and issued third-quarter guidance that exceeded market expectations at the time.
The airline indicated that it expected to maintain fare increases associated with higher fuel expenses.
However, Delta also forecast that its annual fuel bill would be approximately $4 billion higher than in the previous year.
Volatility in energy prices remains an important consideration for the airline’s profitability, given the effect of fuel costs on operating expenses.
US Consumer Sentiment Report Ahead
Investors are also awaiting the University of Michigan’s preliminary consumer sentiment figures for October.
The index is expected to decline to 47.5 from 48.1 in September, when it reached a four-month low.
The survey will provide further information about household confidence, inflation expectations and purchasing conditions at the beginning of the final quarter of 2026.
In September, consumers expressed concerns about continued price increases, although assessments of conditions for purchasing durable goods improved slightly.
Joanne Hsu, director of the University of Michigan’s Surveys of Consumers, attributed the improvement partly to “a perception that completing such purchases now would help consumers avoid higher prices in the future.”
Expectations for inflation over the following 12 months increased in September to their highest level since June.
The survey also identified “broad agreement across the political spectrum” that the economic outlook had deteriorated since the beginning of the year.
Oil Prices and Middle East Developments
Energy markets remained sensitive to developments in the Middle East after Brent crude futures recorded their largest daily increase in two weeks on Thursday.
The rise followed concerns about a possible escalation in the regional conflict and its implications for energy supplies.
Oil prices subsequently eased from their highs after US President Donald Trump said Washington was engaged in “positive” discussions with Iran and would not launch military strikes against the country before the November midterm elections.
Earlier media reports had indicated that the Pentagon was considering possible military action before the vote.
Higher energy prices have also contributed to concerns about inflation and government bond yields, adding to volatility across financial markets.
US Mobile Tower Stocks Gain Following SpaceX Spectrum Agreement
Shares in major US mobile tower operators rose in extended trading after SpaceX (NASDAQ:SPCX) agreed to acquire a nationwide portfolio of low-band wireless spectrum.
American Tower (NYSE:AMT), Crown Castle (NYSE:CCI) and SBA Communications (NASDAQ:SBAC) gained between 3% and 4.5% after the regular trading session.
The Wall Street Journal reported that SpaceX would pay approximately $8 billion in cash to Grain Management for the spectrum portfolio.
The acquisition could support the expansion of Starlink’s satellite-to-mobile communications services and potentially allow SpaceX to develop additional terrestrial network infrastructure.
Bernstein indicated that the agreement maintained the possibility of SpaceX establishing a ground-based wireless network.
The frequencies are expected to improve signal coverage in locations where buildings and other obstacles can limit satellite connectivity.
SpaceX Chief Executive Elon Musk described the transaction as “the last critical piece of the spectrum puzzle needed for SpaceX to provide complete phone coverage in America.”
The proposed acquisition has drawn attention to the potential effects of satellite-based mobile services on established telecommunications operators and infrastructure providers.
Overall, Friday’s market outlook reflected a combination of technology sector developments, corporate earnings expectations, consumer confidence data and geopolitical uncertainty.
Investors will be assessing whether the early gains in US stock futures can be sustained as new economic and company information becomes available.
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