This Week on Wall Street

Wall Street's rally stalled Thursday as a semiconductor-led selloff dragged the Nasdaq Composite down 1.25% to 27,193.34, its worst session since mid-August, after a report questioning OpenAI's revenue growth reignited doubts about the AI spending boom. The S&P 500 slipped 0.47% to 7,765.36 while the Dow Jones eked out a 0.1% gain to 51,231.64, as Energy and Healthcare offset the drag from chipmakers and megacap tech. Crude extended its advance with Brent pushing back above $102 on renewed Strait of Hormuz tensions, and the 10-year Treasury yield climbed to roughly 5.33%, its highest since 2002, pressuring rate-sensitive sectors. Delta Air Lines kicked off the unofficial start of Q3 earnings season this morning, reporting a flat $1.5 billion pretax profit as fuel costs offset strong premium travel demand, with the University of Michigan's preliminary October consumer sentiment reading due later today. Markets now look ahead to next week's bank earnings from JPMorgan and Wells Fargo on Tuesday and the September CPI report on Wednesday for the next catalysts, with the Fear & Greed Index easing to 36 (Fear) as rising yields, oil, and AI-growth jitters outweigh last week's rate-cut-friendly jobs data.