Dusseldorf. At the end of the trading week, the mood on Wall Street is rising. The major indices are higher or unchanged in early trading.
The Dow Jones standard values remain almost unchanged at 51,356 points.
The more broadly diversified S&P 500 is also trading little changed at 7,783 points.
The Nasdaq technology exchange is slightly higher at 27,282 points.
The Nasdaq 100, a reflection of the 100 non-financial companies with the highest market capitalization, is trading little changed at 30,795 points.
The day before, massive losses in AI stocks had dragged down the Nasdaq technology exchange significantly. This was triggered by a media report about the sales of the ChatGPT developer OpenAI, which increased fears that the high AI spending is becoming increasingly difficult to justify.
According to the Financial Times, OpenAI recently told investors that the AI company's annualized sales at the end of September were nearly $50 billion, about $20 billion lower than previously reported.
This was followed on Friday by a report from the Bloomberg agency, according to which, according to insiders, OpenAI is aiming for annualized sales of at least $70 billion by the end of 2026. The increase is expected to come primarily from the increasing business with companies.
The new number seems to calm the market. Nevertheless, many experts believe that the high valuations of AI companies are exaggerated, especially since the companies are still deeply in the red. According to critics, even the high growth rates do not justify such high valuations.
“The main risk to AI trading is not necessarily a collapse in demand, but rather a gradual slowdown in growth or monetization falling short of increasingly ambitious market expectations,” said Francisco Simon of Santander AM. Even minor information could trigger a “disproportionate reaction.”
Meanwhile, the situation on the oil market is calming down. US President Donald Trump ruled out a renewed offensive against Iran before the US congressional elections in early November and at the same time said that productive talks were being held with the Islamic Republic.
The North Sea oil Brent, with delivery in December, and the US oil WTI, with delivery in December, each lost up to around one and a half percent to 102.69 and 90.20 dollars per barrel respectively. On Thursday, the prices had increased around five and a half percent. Concrete progress in the negotiations and safer passage for ships in the Strait of Hormuz still need to underpin hopes for an improvement in the situation, said Linh Tran, analyst at broker XS.com.
Yields on US government bonds are also stabilizing after Trump's announcement. The yield on the ten-year bond is 5.26 percent, that of the thirty-year bond is 5.62 percent.
Look at the individual values
KI stocks: After Thursday's losses, KI stocks are recovering:
Broadcom is up 1.1 percent.
Coreweave gains 0.7 percent.
Orcale rises 3.6 percent.
SpaceX: Elon Musk's space company has acquired low-band frequencies from the investment firm Grain Management. SpaceX could now become a major mobile operator in the USA with its Starlink satellites. The share rose by 1.9 percent.
Delta: The US airline is making significant cuts to its annual outlook due to increased fuel costs. In the end, there should be earnings per share adjusted for special items of between $5.10 and $5.60, Delta said. Previously, the targeted range was $6.50 to $7.50. Nevertheless, demand remains high, said Delta boss Ed Bastian. The papers lose 2.9 percent.
Apple: According to a media report, Apple is reducing orders for iPhone components due to weak demand. The order volume for October is 15 percent below the original planning, wrote “Nikkei Asia” on Friday, citing insiders. The iPhone 18 Pro and iPhone 18 Pro Max models introduced last month are affected. The share is losing 2.5 percent.
