Dow, S&P 500 and Nasdaq open higher as tech stocks rebound

Tech Stocks Rebound as OpenAI Revenue Figures Emerge

Market Recap

US stocks opened higher on Thursday as technology shares rebounded from a bruising Wednesday. The Dow, S&P 500, and Nasdaq all moved up, with futures pointing to a green open. A revenue figure for OpenAI helped lift tech stocks, while a different report about the company helped to counteract the negative impact of a Financial Times report on OpenAI's finances.

Tech Stocks Rebound

The Nasdaq Composite took the worst of it, dropping 1.25% on Wednesday, but bounced back on Thursday. The Dow Jones Industrial Average closed up 51.77 points, or 0.10%, at 51,231.64. The S&P 500 did not share that mood, falling 36.41 points, or 0.47%, to finish at 7,765.36.

Strength in Semiconductor and AI-Related Funds

Strength showed up in semiconductor and AI-related exchange-traded funds. Oil prices also gave the rally a second leg, declining toward $102 per barrel as concerns about supply disruptions in the Middle East cooled.

What this Means for Investors

A revenue report about OpenAI, a firm with no public shares, knocked 1.25% off the Nasdaq Composite in a day. Chipmakers, cloud providers, and AI-themed funds all trade partly on the assumption that AI spending keeps growing. Sentiment around AI swung from worry to relief within roughly 24 hours, driven by two press reports. Investors heavily exposed to tech should note the asymmetry: a headline that hints at slower AI revenue can do real damage fast, while the recovery depended on a forecast that has not yet been delivered.

Benchmark Watch

The $70 billion year-end target now becomes a benchmark the market will watch closely. For now, the Dow is holding above 51,000 and the S&P 500 sits near 7,765. The Nasdaq still has work to do to reclaim the 345.35 points it surrendered on Wednesday.