4:20pm: Wall Street recovers
US stocks rallied on Friday to close out a volatile week, with the Dow Jones Industrial Average, S&P 500 and Nasdaq Composite all recovering some ground after Thursday's selloff.
The Dow climbed 423 points, or 0.8%, to 51,655, while the S&P 500 added 46 points, or 0.6%, to 7,812. The Nasdaq gained 173 points, or 0.6%, to finish at 27,366.
Investor concerns about artificial intelligence revenues appeared to ease, helping markets rebound after consecutive sessions of losses. Attention is now turning to the start of earnings season, which will give investors a fresh look at corporate performance and the outlook for the months ahead.
Bank earnings take centre stage next Tuesday, when JPMorgan Chase and Goldman Sachs report alongside Johnson & Johnson (NYSE:JNJ) , Domino's Pizza and UnitedHealth. Later in the week, investors will hear from major semiconductor companies ASML and TSMC, as well as Morgan Stanley (NYSE:MS) , Wells Fargo and Bank of America.
The results could help determine whether corporate earnings can support the market's recovery, particularly as investors continue to weigh the growth prospects of the AI sector.
3:35pm: Small cap wrap
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U.S. Global Investors (NASDAQ:GROW) CEO Frank Holmes argues that gold miners remain undervalued despite September's gold selloff, pointing to central bank buying, ETF inflows and demand in China and India alongside improving cash flow and earnings.
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Alvopetro Energy Ltd (TSX-V:ALV, OTC:ALVOF, FRA:A6Y0) has received positive analyst feedback on its entry into Brazil's Tucano Basin, which brokerages view as a low-cost opportunity to establish a third growth platform by leveraging its existing operating and gas marketing expertise.
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EnWave Corp (TSX-V:ENW, OTC:NWVCF, FRA:E4U) has signed a royalty-bearing commercial licence with Ashland Dehydrated Foods, which purchased two 10kW Radiant Energy Vacuum machines for use in food and pet food manufacturing.
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Montero Mining and Exploration Ltd (TSX-V:MON, OTC:MXTRF) has raised C$1.5 million through a non-brokered private placement to fund drilling at its Elvira Gold Project in Chile.
2:30pm: Market movers
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Delta Air Lines Inc (NYSE:DAL) cut its 2026 adjusted earnings forecast to $5.10 to $5.60 per share from $6.50 to $7.50 as higher jet fuel costs pressured margins, following quarterly earnings that missed analyst expectations.
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AT&T Inc (NYSE:T, XETRA:SOBA), T-Mobile US Inc (NASDAQ:TMUS, XETRA:TM5) and Verizon Communications Inc (NYSE:VZ, XETRA:BAC) stocks moved lower after news that SpaceX Corp (NASDAQ:SPCX) is expanding Starlink into mobile services.
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Aritzia Inc (TSX:ATZ) reported a 204.2% increase in second-quarter net income to C$201.7 million, supported by tariff refunds, 44.1% revenue growth and stronger comparable sales.
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Reddit Inc (NYSE:RDDT) is gaining a larger share of digital advertising budgets, with Horizon Media reporting annual growth of 20% to 25% in its share of client spending over the past three years.
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Penguin Solutions received a Buy rating and $100 price target from Bank of America, which cited demand for memory and AI infrastructure.
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MTY Food Group raised its quarterly dividend by 35% to C$0.50 per share despite lower third-quarter net income and weaker comparable restaurant sales.
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Lumentum Holdings said strong demand for optical and laser components used in AI data centres has effectively booked its production capacity through early 2029, sending shares up more than 4%.
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Humana (NYSE:HUM) shares surged nearly 15% after the insurer improved its 2027 Medicare Advantage quality ratings, with about 95% of members enrolled in plans rated at least four stars.
1:00pm: iPhone 18 demand concerns
Apple Inc (NASDAQ:AAPL, XETRA:APC) ( Apple Inc (NASDAQ:AAPL, XETRA:APC) , Apple Inc (NASDAQ:AAPL, XETRA:APC) ) faces growing iPhone 18 Pro demand concerns as delivery waits shorten, with UBS retaining a 'neutral' rating and $296 price target.
UBS Evidence Lab data covering more than 30 geographies showed average iPhone 18 Pro wait times shortened by about six days over the week.
The broker said falling waits against stable supply were increasingly concerning, particularly after price rises heightened the risk that customers would become more sensitive to cost.
However, Pro Max wait times remained relatively steady over the week, averaging about 24 days, down from 25 days for the previous model a year earlier.
These mixed signals precede the start of preorders for the $1,999 iPhone Duo on October 16, with availability following on October 23.
Shares of Apple were down around 1.6% on Friday afternoon.
11:50am: FTSE green
The FTSE 100 capped a winning week on Friday with a 1.1% gain on the day to finish at 10,552 points.
Mining, technology, and professional service heavyweights heavily concentrated the gains, noted Tickmill's Patrick Munnelly.
"UK equities ended a turbulent week on a firm note as diplomatic pause signals in the Middle East cooled crude oil prices and relieved bond market stress," Munnelly commented.
"Strong performance across miners and tech heavyweights offset a direct hit to telecom operators from SpaceX disruption fears, restoring market stability into the weekend."
10:30am ET: US stocks rise
Wall Street moved higher Friday morning as falling oil prices and a recovery in technology stocks helped ease concerns about the artificial intelligence boom.
The Dow Jones Industrial Average rose 0.4%, while the S&P 500 gained 0.3% and the Nasdaq Composite advanced 0.5%.
Investor sentiment improved after reports of OpenAI 's revenue outlook helped calm worries about the sustainability of AI spending. Technology shares rebounded after coming under pressure on Thursday, when a report suggesting OpenAI 's annualized revenue was below earlier expectations raised questions about the sector's growth prospects.
Falling oil prices also supported the market, with Brent crude futures, the international benchmark, easing to around $103 a barrel. Prices retreated as concerns about potential disruptions to Middle Eastern oil supplies eased.
Not all stocks participated in the rally. Delta Air Lines ( Delta Air Lines Inc (NYSE:DAL) ) shares fell after the carrier reported third-quarter adjusted earnings of $1.72 per share, narrowly missing expectations, and cut its full-year profit forecast as higher fuel costs outweighed strength in its premium travel business.
9.30 EDT: US futures pare gains ahead of Wall Street open
Dow Jones futures slipped 20 points from the earlier readings, while S&P 500 futures eased 3.25 points and Nasdaq 100 futures lost 3.75 points.
CoStar led the gainers, rising 8.01% to $29.81, while Astera Labs was the biggest loser, falling 9.21% to $347.05.
Mobile tower stocks advanced after SpaceX agreed to acquire nationwide low-band spectrum, while AT&T and Verizon fell.
Bernstein analysts said the deal kept open the possibility of SpaceX building a ground network.
8.00 EDT: Wall Street preview
Dow Jones futures rose 68 points, S&P 500 futures gained 31.25 points and Nasdaq 100 futures climbed 250.75 points on Friday, as investors assessed OpenAI 's revenue outlook.
The gains followed Thursday's technology sell-off, when the Nasdaq Composite lost 1.3%.
Reports put OpenAI 's annualised revenue at about $50 billion at September's end, below the $70 billion previously cited in media reports.
Enterprise growth is reportedly expected to lift annualised revenue to $70 billion or more by December.
Apple fell in premarket trading following reports of reduced iPhone 18 orders, while Delta Air Lines slipped after cutting its profit forecast as fuel costs rose.
Oil eased after Donald Trump ruled out fresh attacks on Iran before November's midterm elections, while Treasury yields remained higher.
In London, the FTSE 100 stood at 10,571.15, up 1.24% on the day.
12.30 BST: UK shares advance despite telecom weakness
London stocks extended their morning gains, with the FTSE 100 up 1.05% on the day and the FTSE 250 ahead 1.40%.
Sage remains the FTSE 100's biggest gainer, up 4.23% to 1,071p, while Airtel Africa was the biggest loser, down 5.68% to 292p.
European equities staged a tentative recovery, with the Stoxx Europe 600 gaining 0.8% and France's CAC 40 and Spain's IBEX 35 advancing 1%.
Telecoms lagged on concerns about competition from satellite mobile services after SpaceX's low-band spectrum acquisition, with Deutsche Telekom down 8% and Vodafone down 4.5%.
11.00 am BST: Small-cap Round-Up
Scancell Holdings PLC (AIM:SCLP, OTC:SCNLF, FRA:SCP) reported a wider annual operating loss of £ 17.4 million and expects to start its Phase 3 melanoma vaccine trial in the fourth quarter of 2026.
Eco Buildings Group PLC (AIM:ECOB, FRA:9ZL0) said its new AI-enabled manufacturing line remains on schedule and within budget, targeting operation by the end of 2026.
ATOME PLC (AIM:ATOM) warned it would seek damages in the high nine figures in US dollars through arbitration unless a viable agreement resolves its Villeta dispute with Paraguay.
Caledonia Mining Corporation PLC (AIM:CMCL, NYSE-A:CMCL, VFEX:CMCL) cut Blanket's 2026 gold production guidance to 69,000-72,500 ounces from 72,000-76,500 ounces after weaker-than-expected third-quarter output.
10.00 am BST: Sage leads software and data stocks higher
Sage Group jumped 5% to 1,078.5p as software and information-services shares led a broad rebound across the London market.
The accounting software provider's rise appeared to be sector-led, with European technology shares recovering from the previous session's sell-off as easing oil prices helped calm inflation and interest-rate concerns.
Data and analytics group RELX advanced 4.2%, while credit-data specialist Experian gained 3.3%, reinforcing the rotation into software and information-based businesses.
The FTSE 100 was up 84 points, or 0.8%, at 10,525, holding close to its earlier high of 10,537.
9.15 am BST: Domestic shares outperform as rally broadens
The FTSE 100 remained 83 points, or 0.8%, higher at 10,524 as strength across software, mining and supermarket shares offset declines among telecommunications and energy companies.
The FTSE 250 outperformed with a 276-point, or 1.2%, rise to 24,220, while the FTSE AIM All-Share gained 0.6% to 775.49.
Sage Group led the blue-chip risers with a 4.3% advance, while information and analytics group RELX gained 3.2% as investors returned to information-services shares following Thursday's global technology sell-off.
Mining shares remained firm as metal prices recovered, with Antofagasta up 3.3% and Fresnillo gaining 2.9%.
Supermarkets also performed strongly after Tesco raised its annual profit guidance on Thursday, with Tesco adding 2.8% and Sainsbury's rising 2.7%.
Morgan Advanced Materials topped the FTSE 250 with a 7.9% gain, followed by Trustpilot at 6.3%, Seraphim Space Investment Trust at 5.2% and livestock genetics group Genus at 5%.
Ocado, Saga, RHI Magnesita and RS Group each advanced more than 4.5%.
Telecommunications shares moved against the broader market, with Vodafone falling 4.3%, Airtel Africa losing 3.8% and BT Group declining 2.5%.
Oil producers also retreated as Brent crude eased from Thursday's surge, leaving BP down 1.7%, Shell 1.5% lower and Ithaca Energy off 0.8%.
8.15 am BST: Blue chips open firmly higher
The FTSE 100 climbed 88 points, or 0.8%, to 10,529 as easing oil prices and recovering metals markets supported a broad rebound following Thursday's decline.
The index opened at 10,441.50 before reaching an early high of 10,538.95, while the domestically focused FTSE 250 gained 213 points, or 0.9%, to 24,156.70.
Precious and industrial metals miners led the advance as gold rose 1.5% and copper gained 1.3%.
Fresnillo topped the FTSE 100 with a 3.3% rise, while Antofagasta gained 2.7% and Endeavour Mining advanced 2.5%.
7.00 am BST: London called higher after oil-driven decline
The FTSE 100 is expected to open around 94 points higher at 10,535 after closing Thursday's session down 0.16% at 10,441.60.
IG's pre-market indication points to a recovery as oil prices retreat from their latest surge and US equity futures move higher.
Wall Street delivered a mixed session after rising energy costs and elevated bond yields unsettled investors, with the S&P 500 falling 0.5% and the technology-heavy Nasdaq Composite dropping 1.3%, while the Dow Jones Industrial Average edged 0.1% higher.
Technology and artificial intelligence-related shares led the decline, with Nvidia, Broadcom and Micron among those losing ground as investors questioned elevated valuations ahead of the US earnings season.
Asian markets were divided, with Australia's S&P/ASX 200 closing 0.6% higher and Hong Kong's Hang Seng gaining 1.1%, while Japan's Nikkei 225 fell 0.8% and the Shanghai Composite declined 1.4%.
Markets in South Korea and Taiwan were closed for holidays.
Brent crude retreated 1.2% to $103.03 a barrel and West Texas Intermediate fell 1.2% to $90.43 after comments suggesting diplomatic progress with Iran reduced immediate supply concerns.
Gold rose 1.5% to $4,219 an ounce and copper gained 1.3%, potentially supporting London-listed precious and industrial metals miners, while the oil decline could weigh on energy shares after Thursday's rally.
Sterling traded slightly higher at $1.324, while Bitcoin was around £62,000.
The UK corporate diary is quiet, leaving commodity prices and global risk sentiment to drive the open before preliminary US consumer-confidence figures at 3pm.
