U.S. Stocks Mixed as AI Revenue Fears Hit Tech Sector

U.S. stocks ended mostly lower on Thursday, October 9, 2026, as escalating Middle East tensions and disappointing revenue signals from OpenAI weighed on the market. The Dow Jones Industrial Average rose 0.1%, or 51.77 points, to close at 51,231.64 points, while the S&P 500 fell 0.5%, or 36.41 points, to finish at 7,765.36 points. The Nasdaq declined 1.3%, or 345.35 points, to end at 27,193.34 points.

Semiconductor and artificial intelligence stocks suffered significant losses following a report that OpenAI's annualized revenues were sharply lower than previously signaled. NVIDIA Corporation shares dropped 2.9%, and Advanced Micro Devices, Inc. shares fell 3.9%. Oracle Corporation shares tumbled 5.5%. The Information Technology Select Sector SPDR declined 1.8%, marking the worst performance among S&P 500 sectors, while the Energy Select Sector SPDR gained 3% as eight of the eleven benchmark sectors ended in positive territory.

Geopolitical risks contributed to the market's volatility. President Donald Trump stated he has no plans to reach a deal solely to end the Iran war, prompting fears of massive U.S. attacks in the region. Although Trump later announced he would not carry out attacks before the midterm election, oil prices remained sharply higher. West Texas Intermediate futures rose 3.64% to $91.49 per barrel, and Brent crude climbed 4.07% to settle at $104.28 per barrel.

Bond yields eased slightly after hitting historic levels earlier in the week. The 30-year Treasury yield was 6 basis points lower at 5.601%, and the 10-year Treasury yield fell 5 basis points to end at 5.227%. Both yields had reached new 24-year highs earlier this week.

Labor market data indicated stability in employment trends. The Labor Department reported that jobless claims totaled 197,000 for the week ending October 3, a decrease of 2,000 from the previous week's revised level of 199,000. The four-week moving average for initial claims was 198,000, down from the previous week's revised average of 200,500. Continuing claims stood at 1,716,000, an increase of 17,000 from the prior week's revised level of 1,699,000.

Market breadth showed mixed signals across exchanges. On the New York Stock Exchange, advancers outnumbered decliners by a ratio of 1.28 to 1, with 110 new highs and 416 new lows recorded. On the Nasdaq, declining issues favored by a ratio of 1.33 to 1, with 33 new 52-week highs and 319 new lows. The S&P 500 recorded four new 52-week highs and twelve new lows. Total volume reached 18.81 billion shares, exceeding the last 20-session average of 17.74 billion shares.