Morning Preview: October 09, 2026

Early Look

Friday, October 9, 2026

After mixed results on Thursday with the S&P 500 and Nasdaq falling, btu the Dow and Russell 2000 rising, US futures are looking at a higher open as tech looks to rebound into the weekend. The Nasdaq pulled back notably on Thursday, more than 1% and is now down -2% from its recent all-time highs on Tuesday as weakness in AI related sectors/semiconductors weighed on the tech sector after a Financial Times report that OpenAI’s annualized revenues were closer to $50B at the end of September, well below the $70B figure previously circulated. In Asian markets, The Nikkei Index slipped -11 points to 69,030, the Shanghai Index edged higher by 1 points to 3,813, and the Hang Seng Index jumped 425 points to 24,211. In Europe, the German DAX is up 225 points to 25,033, while the FTSE 100 rises 77 points to 10,518. A relatively quiet morning of economic data with the University of Michigan Confidence at 10:00 AM ahead of key inflation data next week with September CPI and PPI inflation readings mid-week. Also next week, the unofficial start to Q3 earnings season with big banks out JPM, Citi, GS, BAC, WFC and others. This morning in earnings airline Delta (DAL) missed results and cut its outlook for the year. Telecom stocks (VZ, T, TMUS) are lower and tower stocks AMT, CCI, SBAC are higher after SpaceX (SPCX) struck a deal to acquire a nationwide low-band spectrum license portfolio that will enable Starlink Mobile to become a major telecom operator in the US. In Managed care, shares f HUM surge and ALHC falls after CMS announced star ratings overnight. lastly, optical stocks LITE, AAOI, CIEN, COHR surge on positive demand comments from LITE CEO.

• The Dow Jones Industrial Average rose 51.77 points, or 0.10%, to 51,231.64
• The Nasdaq Composite tumbled -345.35 points, or 1.25%, to 27,193.34
• The Russell 2000 Index edged higher 0.92 points, or 0.03% to 2,794.13

• 10:00 AM ET                University of Michigan 1-yr and 5-yr inflation expectations
• 12:00 PM ET WASDE October crop report
• 1:00 PM ET                   Baker Hughes Weekly rig count data

• India criticized the Trump administration’s suspension of the Permanent Labor Certification program, saying the decision conflicts with the shared ambitions of the two countries. The U.S. suspended multiple companies from using the system as Vice President JD Vance called for technology companies to hire more American workers and alleged widespread fraud in the H-1B visa program.
• China will build technology monitoring, risk warning and emergency response systems to ensure AI is safe, reliable and controllable, state-run Xinhua news agency reported on Friday, citing new government guidelines.

• VF Corp. (VFC) was upgraded to Neutral from Underweight at JPMorgan with an unchanged price target of $18 citing valuation as sees a neutral risk/reward at current share levels following its recent fieldwork.

• Oil-Dri Corp. (ODC) Q4 EPS $1.00, +12% YoY; net sales $129.3Mm, +3% YoY, a quarterly record driven by better product mix; B2B sales $50.1Mm, +4% YoY; R&W sales $79.2Mm, +3% YoY; gross profit $36.0Mm, +3% YoY; gross margin 27.8%, flat YoY despite 3% higher domestic cost of goods per Ton; operating Income $18.2Mm, +17% YoY; EBITDA $24.1Mm, +13% YoY.
• Park Aerospace (PKE) Q2 EPS $0.21 vs. $0.12 a year ago and $0.17 est, +75% YoY; sales $20.8Mm vs. est. $20.0Mm, +27% YoY and +14% QoQ from $18.3Mm; adj. EBITDA $5.29Mm vs. $3.40Mm, +55% YoY, est $4.658Mm; 1H sales $39.1Mm vs. $31.8Mm; 1H adj. EBITDA $9.86Mm vs. $6.36Mm; 1H EPS $0.37 vs. $0.22; cash and marketable securities $114.7Mm vs. $89.4Mm at March 1.
• SpaceX (SPCX) announced an agreement to acquire a nationwide low-band spectrum license portfolio that will enable Starlink Mobile to become a major telecom operator in the US.

• Gemini (GEMI) was downgraded to Underweight from Equal Weight at Morgan Stanley and cut tgt to $4.75 from $5.50 as believes the better crypto backdrop may not resolve Gemini’s scale and distribution challenges or deliver profitable growth.
• Genworth (GNW) was downgraded to Market Perform from Outperform at KBW Inc. and Voya Financial (VOYA) also downgraded to Market Perform from Outperform as the firm reduced Q3 EPS estimate by 1% on average for the life insurance group and trimmed 2027 EPS estimate by 1% due to weaker Q3 markets, the analyst tells investors in a preview.

• Humana Inc. (HUM) shares jumped 15% overnight after announced improved Star Ratings for 2027, highlighted by 95% of its Medicare Advantage members being enrolled in plans rated 4.0 stars or above by the Centers for Medicare and Medicaid Services (CMS). Additionally, 42% of Humana Medicare Advantage members are enrolled in 4.5-star plans for 2027.

• Apple Inc. (AAPL) plans to debut its first touch-screen MacBook and a new iPad mini around October 27, per Bloomberg. The launch is scheduled on or around Tuesday, October 27, per people with knowledge of the matter. It will also include 14-inch MacBook Pro and iMac versions with M6 chips. The new MacBook Pros will be lighter than current models and have OLED screens and the Dynamic Island interface. The iPad mini will also get an OLED screen and a revamped speaker system.
• Optical stocks rising (CIEN, AAOI, GLW) after Lumentum (LITE) CEO Says optical parts are ‘completely sold out’ through early 2029; expects significant supply shortfalls for some products through 2028; Nvidia invested $2B each in Lumentum and peer Coherent (COHR) earlier this year.
• Telecom stocks Verizon (VZ), AT&T (T) and T Mobile (TMUS) shares fall after SpaceX (SPCX) struck a deal to acquire a nationwide low-band spectrum license portfolio that will enable Starlink Mobile to become a major telecom operator in the US. SPCX will pay about $8 billion in cash for the assets to the seller, private-equity firm Grain Management. The deal raises the stakes for legacy carriers, transforming satellite direct-to-device connectivity from a supplementary safety feature for remote dead zones into a full-scale commercial rival capable of unseating terrestrial cellular networks.