Wall St climbs as oil slips; SpaceX spectrum deal weighs on telecoms
SPY•U.S. stock indexes rose at the market open, with the Dow up 0.27%, the S&P 500 up 0.32% and the Nasdaq up 0.48%, as oil prices fell. Telecom shares declined after SpaceX struck a deal to acquire a nationwide low-band spectrum portfolio.
1. Indexes advance
U.S. stock indexes edged higher as oil prices retreated on easing Middle East supply concerns. Brent crude fell around 1% but remained above $100 a barrel, while the 10-year Treasury yield was steady at 5.25%. At 9:42 a.m. ET, the Dow rose 0.27%, the S&P 500 gained 0.32% and the Nasdaq advanced 0.48%.
2. Telecoms under pressure
Telecom shares fell after SpaceX struck a deal to acquire a nationwide low-band spectrum portfolio, raising competitive concerns across the sector. T-Mobile US dropped 9.1%, AT&T fell 7.4% and Verizon eased 6.3%; SpaceX rose 3.2%.
3. Company movers
Delta Air Lines fell 3% after cutting its annual profit forecast by nearly a quarter at the midpoint of its range. Apple declined 2.2% after a media report said it had told some suppliers to cut production of components for its iPhone 18 Pro and iPhone 18 Pro Max. Humana jumped 16.6% after U.S. government data showed 95% of its Medicare Advantage members were in plans rated four stars or higher for 2027.
