SpaceX spectrum deal hits U.S. carriers as Lumentum says some optical capacity is sold out through 2029

U.S. stocks closed higher on Oct. 10, with the S&P 500, Nasdaq and Dow all posting gains for the day and for the week, while the Philadelphia Semiconductor Index slipped. The sharpest move came in communications after SpaceX agreed to buy nationwide 800 MHz low-band spectrum licenses from Grain Management in a deal reportedly worth about $8 billion. T-Mobile, AT&T and Verizon fell sharply as investors reassessed competitive pressure on incumbent wireless operators, while tower companies such as Crown Castle, American Tower and SBA Communications rallied on expectations that satellite-backed mobile services may still need ground infrastructure to improve urban and indoor coverage. In optical networking, Lumentum said some optical component capacity has already been sold through early 2029, and demand for certain products could still exceed supply by about 70% next year. The company’s shares rose 5.23%, highlighting that AI data center spending continues to support parts of the supply chain tied to high-speed optical interconnects. At the same time, chip stocks did not move in lockstep: the SOX index fell, Nvidia edged lower, and the broader tech rebound remained uneven. The report also noted follow-up clarification on OpenAI’s revenue figures, weaker University of Michigan consumer sentiment data for October, and mixed signals around Apple’s iPhone 18 Pro component orders.