(Updates with economic data, recent oil price movement, world markets' overview and corporate stock movements.)
US equity futures edged higher pre-bell Friday as traders assessed the latest revenue updates of OpenAI, an indicator of demand in artificial intelligence-related sectors.
Dow Jones Industrial Average futures were 0.1% higher, S&P 500 futures were up 0.4%, and Nasdaq futures were 0.7% higher.
OpenAI told investors that it reached around $50 billion in annualized revenue at the end of September, according to multiple reports late Thursday. The ChatGPT creator also expects annualized revenue to exceed $70 billion by the end of 2026, Bloomberg reported.
President Donald Trump said the US will not be attacking Iran before the midterm elections in November. "We are having productive discussions with the Islamic Republic of Iran," Trump said in a post on Truth Social.
Traders also digested the latest round of earnings, as Delta Air Lines (DAL) posted higher Q3 adjusted earnings and total revenue that fell short of expectations.
Oil prices were lower, with front-month global benchmark North Sea Brent crude down 1.1% at $103.16 per barrel and US West Texas Intermediate crude 0.3% lower at $91.21 per barrel.
The University of Michigan consumer sentiment index for October, slated for 10 am ET, is expected at 47.6, down from 48.1 previously, according to estimates compiled by Bloomberg.
In other world markets, Japan's Nikkei closed flat, Hong Kong's Hang Seng ended 1.8% higher, and China's Shanghai Composite finished 0.1% higher. Meanwhile, the UK's FTSE 100 was up 1.1%, and Germany's DAX index was 1.3% higher in Europe's early afternoon session.
In equities, Delta Air Lines stock fell 2.8% after reporting its Q3 financial results. American Express (AXP) shares were down 1.3% after the company was fined $350 million by US regulators for deficiencies in its anti-money laundering programs.
Stocks of Verizon Communications (VZ), T-Mobile US (TMUS), and AT&T (T) were lower after SpaceX's (SPCX) acquisition of low-band spectrum increased concerns over growing competition from satellite-based mobile services. Verizon Communications shares dropped 5.7%, T-Mobile US stock was down 7.3%, and AT&T shares declined 6.9%.
On the winning side, SpaceX stock was up 3.4% after the company agreed to acquire a nationwide low-band spectrum portfolio from investment firm Grain Management as it seeks to establish Starlink Mobile as a major US mobile carrier. Tesla (TSLA) stock was up 1.3% after a Reuters report citing China Passenger Car Association data that the company sold 95,366 China-made electric vehicles in September, up 5% compared to last year.