Stock Market Today: Live Updates

U.S. stock futures were nearly flat Thursday evening after a disappointing earnings report from OpenAI put some momentum into the high-flying artificial intelligence trade.

S&P 500 Futures Contracts were up 0.09%, while Nasdaq 100 Futures added 0.05%. Dow Jones Industrial Average Futures advanced by 23 points, or 0.04%.

Actions of EspaceX rose 2% in extended trading after the rocket company announced a deal to buy a nationwide spectrum portfolio. Actions of AT&T, Verizon And T-Mobile slipped as investors worried the deal could increase competition.

AI shares fell Thursday after CNBC confirmed that OpenAI told investors it had $50 billion in annualized revenue at the end of September. A figure of $68 billion was widely reported last month, although a person familiar with the matter said it also included partners’ gross revenues.

CoreWeave fell by more than 7%, while Oracle, Intel And Super microcomputer all lost about 5%. Advanced micro-device slipped almost 4%, while Nvidia lost almost 3%.

“If we have a number of days like this…we could see a real rout of AI-related names,” Kristina Hooper, chief market strategist at Man Group, said on CNBC’s “Closing Bell: Overtime.” “This could sour investors.”

THE Nasdaq Composite fell more than 1%, marking its biggest one-day loss since mid-August. Thursday marked the second straight day of decline for the tech-heavy index after hitting new all-time highs earlier in the week.

Technology problems have hampered the S&P500 to a loss of 0.5%, marking its second consecutive day in the red. But the blue chip Dow resisted the downtrend, with the 30-stock index ending the session slightly above flat.

Both the Dow Jones and the Nasdaq Composite have been stable since the start of the week. The broad S&P 500 index is on track for a 0.6% gain for the week.

Investors will be watching Delta Airlines results before the bell on Friday. Consumer confidence data for October is also due this morning.