Nasdaq 100: Tech Stocks Find Buyers as Dow Holds Firm Premarket

• Nasdaq-100 futures traded up 0.86% at 31,234.75, while Dow futures gained only 0.2%, indicating selective pressure on tech stocks versus broader market stability
• AI-related stocks suffered sharp losses Thursday: CoreWeave fell over 7%, Oracle and Intel dropped 5%, AMD lost 4%, and Nvidia declined 3% on OpenAI revenue concerns
• Oil prices surged over 3-4% with Brent crude at $104.28 and WTI at $91.49, while Treasury yields remain near 24-year highs, creating additional headwinds for expensive tech valuations

Market Summary: Nasdaq 100 Tech Stocks Recover After AI-Driven Selloff

Key Market Movements:

December E-mini Nasdaq-100 futures traded at 31,234.75, up 265.25 points (+0.86%) in premarket Friday. Dow futures gained 105 points (+0.2%), while S&P 500 futures rose 0.3%. The Nasdaq Composite had closed Thursday down 1.25% at 27,193.34—its largest single-day loss since mid-August. The Dow Jones Industrial Average closed Thursday up 51.77 points (+0.1%) at 51,231.64.

OpenAI Revenue Report Triggers AI Stock Repricing:

OpenAI disclosed $50 billion in annualized revenue as of September, significantly below a previously reported $68 billion figure. This discrepancy prompted sharp declines in AI-related stocks: CoreWeave fell over 7%, Oracle, Intel, and Super Micro Computer each dropped approximately 5%, AMD declined nearly 4%, and Nvidia lost almost 3%. The selloff remained concentrated in high-flying tech stocks rather than indicating broad market liquidation.

Technical Analysis:

Nasdaq futures are attempting recovery from support at 30,986.75-30,838.00. The main uptrend remains intact unless support at 30,356.75 breaks. For the Dow, the 51,412 level is critical for setting Friday's tone, with momentum requiring a break above 52,086.

Additional Market Pressures:

Brent crude surged 4.07% to $104.28 per barrel, while WTI rose 3.64% to $91.49 amid Middle East tensions. Treasury yields held near 24-year highs, adding pressure to tech valuations.

Market Outlook:

Selling appeared targeted at overvalued AI stocks rather than systemic. The divergence between Dow stability and Nasdaq weakness suggests selective profit-taking. Traders now reassess AI revenue projections that have supported elevated tech valuations.