Stock Market Today: Nasdaq 100 Rebounds From OpenAI Scare, T-Mobile Tumbles 12%

U.S. stocks edged higher by midday Friday, with the Nasdaq rebounding from Thursday’s setback sparked by concerns over OpenAI’s weaker-than-expected revenue, while the wireless carriers were hammered by a Space Exploration Technologies Corp. (NASDAQ:SPCX) spectrum deal. SpaceX said Thursday it acquired a nationwide 800 MHz spectrum portfolio from Grain Management, a deal that still needs FCC approval. The Wall Street Journal reported a price of $8 billion in cash. The FCC also approved plans for 15,000 Starlink Mobile Gen2 satellites, and SpaceX’s COO said the company plans to target existing wireless customers. T-Mobile US Inc. (NASDAQ:TMUS) tumbled 12.2%, AT&T Inc. (NYSE:T) sank 11.2% and Verizon Communications Inc. (NYSE:VZ) lost 11.1%. Charter Communications Inc. (NASDAQ:CHTR) fell 5.9% and Comcast Corp. (NASDAQ:CMCSA) dropped 3.0%, trading in sympathy with the group. Millicom International Cellular S.A. (NASDAQ:TIGO) slid 6.7% and AST SpaceMobile Inc. (NASDAQ:ASTS) plunged 14.6%. The S&P 500 rose about 0.5% to 7,801 and the Dow Jones Industrial Average advanced 318 points, or 0.6%, to 51,550. The Nasdaq 100 gained about 0.4% to 30,844. The Russell 2000 rose 0.4% to 2,804. Oil Holds Steady, Yet US Consumers Turn More Pessimistic Late Thursday on Truth Social, President Donald Trump said, “We will not be attacking Iran at any time prior to the midterm elections,” adding that the U.S. is “having productive discussions” with Tehran. Iran’s foreign minister said Tehran is reviewing the U.S. response to its seven-day plan to reopen the Strait of Hormuz and will reply within days, leaving investors with a partial, but far from complete, easing of Middle East supply fears. Oil held near the lower end of its recent range. West Texas Intermediate crude traded flat at around $91 per barrel, roughly 11% below its start-of-month level, while Brent hovered near $104. The 10-year Treasury yield edged up about 2 basis points to 5.26% after falling roughly 6 basis points on Thursday from its highest level since 2002. Markets price about an 81% chance the Federal Reserve holds rates steady this month, with a December hike still being debated. Data showed a gloomy consumer. The University of Michigan’s preliminary October sentiment index fell to 46.3 from 48.1 in September, missing expectations and marking the second-lowest reading on record. The current conditions gauge dropped to a record-low 44.7. Year-ahead inflation expectations ticked up to 4.7% from 4.6%, the highest since May, while five-to-10-year expectations rose to 3.5% from 3.4%. SPDR Gold Shares (NYSE:GLD) gained 1.5% as spot gold futures jumped about 1.4% to roughly $4,190 per ounce, though the metal remains about 3% below its start-of-month level. The iShares Silver Trust (NYSE:SLV) advanced 3.0%. Bitcoin (CRYPTO: BTC) bounced 1.9% over 24 hours to about $82,900, recovering from a drop below $81,000 on Thursday that followed a roughly 4.5% slide from Wednesday’s close near $85,600. Friday’s Performance in Major US Indices IndexLast% ChangeMTDYTDS&P 5007,800.68+0.45%+1.95%+13.95%Dow Jones51,550.12+0.62%+1.27%+7.25%Nasdaq 10030,844.26+0.39%+1.43%+22.16%Russell 20002,804.32+0.36%+0.27%+12.99%Updated by 12:15 PM ET According to the Benzinga Pro platform: The Vanguard S&P 500 ETF (NYSE:VOO) gained 0.5%. The SPDR Dow Jones Industrial Average ETF Trust (NYSE:DIA) rose 0.6%. The Invesco QQQ Trust (NASDAQ:QQQ) climbed 0.4%. The iShares Russell 2000 ETF (NYSE:IWM) advanced 0.4%. Humana and Tower REITs Soar Health care led among S&P 500 sectors, with the Health Care Select Sector SPDR Fund (NYSE:XLV) up 1.1%. The Real Estate Select Sector SPDR Fund (NYSE:XLRE) rose 1.3% and the Consumer Discretionary Select Sector SPDR Fund (NYSE:XLY) gained 0.9%, while the Communication Services Select Sector SPDR Fund (NYSE:XLC) fell 0.9%, the only sector in the red alongside consumer staples. The Financial Select Sector SPDR Fund (NYSE:XLF) added 0.7%, the Technology Select Sector SPDR Fund (NYSE:XLK) rose 0.3% and the Energy Select Sector SPDR Fund (NYSE:XLE) gained 0.3%. Among industry funds, the VanEck Gold Miners ETF (NYSE:GDX) jumped 2.9% alongside gold, and the iShares Expanded Tech-Software Sector ETF (BATS:IGV) rose 2.2%. The VanEck Semiconductor ETF (NASDAQ:SMH) fell 0.7%. Humana Inc. (NYSE:HUM) surged 12.2% after saying 95% of its Medicare Advantage members will be in plans rated four stars or higher in 2027, up from 20% in 2026 and well above the 60%-70% J.P. Morgan expected. Evercore ISI estimated the upgrade could bring about $4.8 billion in bonus payments in 2028. Moderna Inc. (NASDAQ:MRNA) rose 9.0%, hitting $216.95 intraday, as its return to the Nasdaq-100, replacing Warner Bros. Discovery, drew index-fund buying. Investors are also eyeing Phase 3 data for intismeran autogene, developed with Merck, due Oct. 24, and the appointment of Juan Andres as chief operating officer. Tower REITs ran against the carriers: Crown Castle Inc. (NYSE:CCI) jumped 13.5%, American Tower Corp. (NYSE:AMT) gained 7.6% and SBA Communications Corp. (NASDAQ:SBAC) rose 6.0%. Read Also: Tanker Rates Hit $1.3M a Day As 9 Shipping Stocks Double in 2026 Friday’s Russell 1000 Top Gainers Name% changeCrown Castle Inc.+13.52%Humana Inc.+12.18%Aura Minerals Inc. (NASDAQ:AUGO) +11.14%Moderna, Inc.+9.04%American Tower Corporation+7.64% Friday’s Russell 1000 Top Losers Name% changeAST SpaceMobile, Inc.-14.59%T-Mobile US, Inc.-12.16%AT&T Inc.-11.19%Verizon Communications Inc.-11.08%Millicom International Cellular S.A.-6.71% Image: Shutterstock