The S&P 500 and Nasdaq Composite finished Thursday's session lower, with the broad market index and tech-heavy Nasdaq losing 0.47% and 1.25% to 7,765.36 and 27,193.34, respectively. Shares of key tech names came under pressure after OpenAI's annualized revenue was revealed to be short of the amount previously signaled. The S&P 500 and Nasdaq were lower on Thursday as investors faced more pressure from rising Treasury yields and elevated oil prices.
→ Monitor semiconductor sector volatility as AI spending narrative faces scrutiny following OpenAI revenue miss.
→ WTI crude oil increased over 5% to almost $93 a barrel—elevated energy prices fuel inflation fears and increase odds of an October rate hike.
→ Treasury yield trajectory: 10-year at 5.23% remains a key barometer for equity valuations and rate expectations.