Finance

Technology and semiconductor shares found firm footing after reports indicated OpenAI expects its annualized revenue run rate to reach or surpass $70 billion by the end of the year. This growth projection effectively countered a sharp selloff from the previous session sparked by industry revenue anxieties.

The relentless surge in government bond yields took a breather, providing significant relief to the broader financial markets. Prior to this stabilization, the 10-year Treasury yield had climbed to its highest point since 2002, driven by inflation worries and hawkish commentary from Federal Reserve officials.

Delta Air Lines officially initiated the corporate third-quarter earnings cycle, reporting results that missed Wall Street consensus estimates. The airline faced bottom-line pressure from escalating fuel costs, despite sustaining healthy premium travel demand and elevated pricing power.