Stock market today: Dow, S&P 500 and Nasdaq rise as oil prices fall and tech recovers

October 9, 2026 7 Min Read

Comments Off

U.S. stocks rose Friday as oil prices fell and technology stocks rebounded. The Dow Jones Industrial Average (^DJI) and the S&P 500 (^GSPC) rose 0.3%, while the tech-heavy Nasdaq Composite (^IXIC) gained 0.5% after shares lost ground on Thursday.

7,798.76 +33.40 (+0.43%)

At 11:49:42 a.m. EDT. Open market.

^GSPC ^DJI ^IXIC

Delta Air Lines (DAL) stock fell after the airline reported third-quarter results that missed the target as rising fuel prices offset strength in its premium business. Delta’s report also sets the stage for the unofficial start of earnings season next Tuesday, when major Wall Street banks report results.

Tech stocks rallied after an AI scare on Thursday, when the Financial Times reported that OpenAI’s annualized revenue reached $50 billion, $20 billion less than estimates. Bloomberg later reported that OpenAI hoped to reach or exceed $70 billion in annualized revenue by the end of the year, helping to ease concerns that the AI boom is losing steam.

Falling oil prices also boosted stocks, with Brent crude futures (BZ=F), the international benchmark, falling to $103 a barrel.

High oil prices, spilling over into $4 gasoline and other inflationary pressures, continued to weigh on U.S. households in October, as the latest University of Michigan Consumer Confidence Survey showed consumer confidence fell to a five-month low.

LIVE 8 updates

SpaceX stock rises on spectrum deal news, extending recent stock run
Investors liked SpaceX’s (SPCX) deal to acquire a portfolio of low-band spectrum, as was announced Thursday. The stock rose 1.6% on Friday.
Telecoms, not so much. Shares of Verizon (VZ), AT&T (T) and T-Mobile (TMUS) fell more than 7% as investors viewed SpaceX’s threat to poach carrier subscribers as credible. SpaceX is taking steps to build a major mobile wireless network and disrupt legacy space players.
SpaceX shares appear to have emerged from their post-IPO hangover. The stock has climbed 10% and 48% over the past three months, recovering from its August lows. The stock is up 8% from its IPO price of $150.
Consumer confidence falls to lowest level since May
Consumer confidence has fallen to a five-month low, according to a University of Michigan survey, as inflationary pressures from the Iran war and tariffs continue to strain U.S. households.
A preliminary consumer confidence reading for October fell to 46.3, its lowest level since May, which represented an all-time low. The index fell 1.8 points compared to September.
“Frustration with the cost of living continues to grow, as consumers across the political spectrum believe the trajectory of the economy has weakened since the start of the year,” survey director Joanne Hsu said in a statement.
US stocks rise at the open as oil prices fall and third quarter results begin
U.S. stocks opened in the green on Friday as falling oil prices offered some relief to investors after a volatile week dominated by rising energy costs and government bond yields.
The Dow Jones Industrial Average (^DJI) edged up 0.3%, while the S&P 500 (^GSPC) rose 0.4% and contracts for the Nasdaq Composite (^IXIC) gained 0.5% after stocks lost ground on Thursday.

51,488.79 +257.15 (+0.50%)
At 11:49:42 a.m. EDT. Open market.
^DJI ^GSPC ^IXIC
Oil prices retreated after President Trump said the United States would not attack Iran before next month’s midterm elections, easing some immediate concerns about further disruptions to energy supplies in the Middle East. Brent crude futures (BZ=F) fell more than 1% but remained above $100 per barrel.
Meanwhile, the benchmark 10-year Treasury yield (^TNX) was hovering around 5.25%, still near the 24-year high reached earlier this week.
Despite these pressures, the S&P 500 and Nasdaq remained on track for weekly gains after hitting record highs earlier this week, as investors continued to bank on strong third-quarter earnings and sustained demand for artificial intelligence.
Attention now turns to earnings season. Delta Air Lines (DAL) stock fell after the airline reported third-quarter results that missed the target as rising fuel prices offset strength in its premium business. Next Tuesday, Wall Street banks report.
Delta reports third-quarter revenue shortfall, cuts forecast as fuel costs rise 62% from last year
Pras Subramanian of Yahoo Finance reports:
Delta Air Lines (DAL) reported third-quarter results Friday morning that missed the mark as strength in Delta’s premium business was unable to blunt the effects of rising fuel prices. Delta later reduced its forecast, noting that its total fuel bill for the year would increase by $6 billion.
For the quarter, Delta reported third-quarter adjusted revenue of $17.58 billion, slightly below analyst estimates of $17.76 billion by Bloomberg, up 15.7% from a year ago. Delta posted adjusted earnings per share (EPS) of $1.72 versus an estimate of $1.82, on adjusted net income of $1.134 versus an expected $1.23 billion.
Delta said its third-quarter performance was hurt by $500 million higher fuel costs than forecasts issued in July. Delta’s total fuel bill for the quarter reached $4.1 billion, up 62% from last year, as the US-Israeli war against Iran roiled the global oil market.
Learn more.
History Says Midterm Elections Could Give the S&P 500 a Year-End Rally
Stocks may be nearing record highs, but history suggests the midterm elections could pave the way for the S&P 500 (^GSPC) to rebound through the end of the year.
Jim Reid of Deutsche Bank pointed out that “we have now entered a historically much stronger seasonal period, which is worth keeping in mind as nervousness remains high in the markets.”
The firm’s research shows that the S&P 500 index has risen in 21 of the last 23 midterm election cycles, from one month before the election to two months after.
“With the midterms less than a month away, we entered that sweet spot this week,” the strategist wrote.
Source: Bloomberg Finance LP, Deutsche Bank Asset Allocation
Learn more.
Apple is the ‘toll on the consumer AI highway,’ says Dan Ives
Yahoo Finance’s Ethan Wolff-Mann writes in today’s Morning Brief newsletter:
Apple (AAPL) has repeatedly positioned itself between the consumer and what they want, with great success.
The iTunes store. The App Store. As Michael Gambon said in “Layer Cake” — a quote I’ve written about before and will say again and again: “The art of good business is being a good middleman,” and Apple understands that as well as anyone.
But Apple’s ability to implement this strategy is due to its access to this sweet spot: controlling and supplying the world’s most popular devices, like the iPhone and iPad, makes it possible.
Dan Ives of Yorkville Ives said that sums up his optimistic case for the hardware king, the sometimes most valuable company, still flying high without being directly involved in cutting-edge AI.
“In our view, Apple will be the toll on the highway to consumer AI,” Ives wrote in a note to clients Thursday. “While Apple has struggled in recent years with its AI strategy and experienced many twists and turns, Ternus and Cupertino finally have a horse in the race with a vision for AI that will become a formidable part of Apple’s strategy in the years to come.”
Learn more.
Good morning. Here’s what’s happening today.
Economic data: US sentiment, October preliminary reading (48 expected, 48.1 previously); University of Michigan Current Conditions, October Preliminary Reading (50.9 Forward); University of Michigan Current Expectations, October Preliminary Reading (46.3 Forward); Year-on-year inflation in the United States, preliminary reading for October (+4.6% previously); US inflation over 5 to 10 years, preliminary reading for October (+3.4% previously)
Earnings schedule: Delta Air Lines (DAL)
Check out some of the biggest news stories of the night:
SpaceX’s phone game sees AT&T, T-Mobile and Verizon crushed after hours
Oil falls after Trump says no attack on Iran before midterms
OpenAI forecasts $70 billion in annualized revenue by the end of 2026
American Express fined $350 million for facilitating money laundering
Fired OpenAI security researchers claim they were kicked out due to ‘suspicious’ circumstances
Tech stocks struggle on concerns about AI spending and high returns
Reuters reports:
Asian stocks fell on Friday and were poised for a second straight weekly decline as investors fretted over rising energy prices, bond market ructions and the huge sums needed to fund AI investments.
Brent crude futures were at $103.70 a barrel during Asian hours after jumping more than 4% in the previous session on concerns over the war in the Middle East which “stoked inflationary concerns and led to higher rates around the world.”
President Donald Trump said Thursday the United States would not launch an attack on Iran before the U.S. midterm elections in November, even as traders remained skeptical about progress in ending the war.
“The big question for markets is whether Trump will keep his word if the Iranian attacks escalate,” said Nick Twidale, chief market strategist at ATFX Global.
“Any sign that the White House is reconsidering military action could lead to a sharp rise in oil prices, particularly with tanker traffic crossing the Strait of Hormuz already under significant pressure.”
Learn more.