U.S. equities climb as oil eases, but telecom stocks dip over SpaceX spectrum deal
Major U.S. stock indexes opened higher on Friday while oil prices fell, yet telecom shares stayed under pressure after SpaceX bought spectrum.
The Dow Jones Industrial Average, S&P 500 and Nasdaq all posted gains at the start of trading on Friday, helped by a retreat in oil prices linked to reduced Middle East supply worries. Despite the broad market lift, shares of telecommunications companies fell after SpaceX announced a spectrum acquisition that raised competitive concerns. The Dow rose 67.32 points to 51,298.96, the S&P 500 added 22.35 points to 7,787.71, and the Nasdaq climbed 149.59 points to 27,342.93.
Why it matters
The move shows how oil price shifts can lift markets while sector-specific news, like SpaceX's spectrum purchase, can weigh on related stocks.
How this story developed
- Sep 21 30-year U.S. Treasury Yield Hits 2002 High Amid Widening Debt Sell-off
- Sep 30 Japanese equities rose alongside broader Asian stocks while markets awaited key US inflation figures that could steer interest-rate policy.
- Oct 2 South Korean equities opened slightly lower on Friday, with the KOSPI down about 0.15% despite gains on Wall Street.
- Oct 7 Nasdaq closed at a record high and Japan lifted its 10‑year bond coupon to 3.1%.
- Oct 7 The Treasury announced plans to sell a $39 billion block of 10‑year notes.
- Oct 8 The market recorded a third straight day of losses.
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