Wall Street Rallies as Trump Rules Out Iran Attacks
Financial markets rebounded on October 9 as Donald Trump ruled out attacks on Iran and OpenAI clarified its revenue projections, offsetting losses in aviation and telecom.
Global financial markets rallied on October 9, 2026, as easing geopolitical tensions and clarified AI revenue outlooks reversed a volatile week. The Dow Jones Industrial Average rose 423 points to 51,655, while the S&P 500 and Nasdaq Composite also gained. This recovery was supported by a decline in Brent crude oil prices to approximately $103 a barrel after Donald Trump ruled out fresh attacks on Iran before the November midterm elections.
Technology stocks rebounded following a clarification from OpenAI that its $50 billion annualized revenue figure was a projection rather than a shortfall, calming investor concerns regarding the sustainability of AI spending. However, Apple Inc. faced pressure due to shortening delivery wait times for the iPhone 18 Pro, suggesting a potential shift in demand.
Sector-specific volatility continued in telecommunications and aviation. SpaceX Corp expanded Starlink into mobile services by purchasing low-band spectrum licenses to challenge mobile carriers. This move lowered shares for companies like AT&T and Verizon but boosted cell-tower stocks. Meanwhile, Delta Air Lines reported an earnings miss and reduced its 2026 guidance, citing a 62% increase in fuel costs, which triggered broader declines across major airline stocks.
