21.10.202620:10:56UTC+00US Stocks Rise on Tech Gains

US equity markets finished higher on Wednesday, supported by renewed optimism over AI-related demand following strong corporate results from SpaceX and Super Micro Computer. The S&P 500 advanced 0.6%, the Nasdaq climbed 1.1%, and the Dow Jones Industrial Average added 360 points.

SpaceX shares jumped 7.8% after Elon Musk said a merger with Tesla would be “a good idea,” and the company reported its first profit as a public entity. Tesla gained 3.4%, and the positive sentiment extended to other space-related names, including Rocket Lab (+5.4%), Planet Labs (+2.3%), and Intuitive Machines (+3.5%).

Super Micro Computer soared 9.5% after issuing a robust quarterly outlook, which helped lift other hardware names such as Hewlett Packard Enterprise (+3.7%) and Dell (+5.3%). Semiconductor stocks also advanced, with Nvidia up 2.5%, Intel gaining 1.3%, and AMD rising 3.4%.

On the downside, Netflix dropped 5.3% after providing a weaker-than-expected profit forecast for the fourth quarter, just days after announcing workforce reductions. AT&T fell 6.4% despite beating earnings estimates, and Elevance Health declined 1.4% even as it raised its profit outlook for 2026.