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QQQ
▲ Likely positiveInvesco QQQ Trust
Relevance: medium
| Market | US stocks |
|---|---|
| Sector | ETF |
| Close on 10/20/2026 | 717.52 |
| Change that session | -0.12% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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U.S. stock futures were mixed overnight after SpaceX reported its first quarterly profit since going public in June, with revenue of $14.58 billion versus an estimated $13 billion and EPS of $0.35 against $0.13 expected. Its AI-related revenue reached $7.56 billion, partly helped by the August acquisition of Cursor. Musk downplayed a possible SpaceX–Tesla merger, though Gene Munster put the odds of a merger within two years at 95%. Super Micro Computer rallied about 17% after preliminary results beat expectations, while Netflix fell nearly 5% on a weak forecast. Oil rose, with Brent at $110.24 a barrel, as tensions with Iran over the Strait of Hormuz persisted.
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The S&P 500 rose 0.3% and the Dow Jones Industrial Average gained 1% on Tuesday as investors looked toward the start of earnings season, while the Nasdaq 100 slipped 0.1%. Shares of 3M jumped over 5% after beating estimates and raising its full-year outlook, Northrop Grumman rose more than 4%, and lower crude prices helped sentiment. After hours, SpaceX reported third-quarter revenue of $14.58 billion versus an estimated $13 billion and EPS of $0.35 against $0.13 expected, lifting the Nasdaq about 1%. The report also noted Anthropic could be valued at up to $2 trillion in its IPO, the FAA certified Boeing's 737 MAX 10, Netflix shares fell 5% after hours on a soft fourth-quarter revenue outlook, Kroger committed $5 billion to lower grocery costs, and Qualcomm is preparing to downsize its global workforce.
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The S&P 500 and Nasdaq Composite rallied Monday as AI and chip stocks rebounded, with the iShares Semiconductor ETF (SOXX) on pace to snap a nine-day slump and the iShares MSCI South Korea ETF (EWY) up 4%. Last week, the S&P 500 fell nearly 2%, its worst weekly decline since late June, while the Nasdaq Composite dropped 4.5%. Whether the rebound lasts will depend largely on results from big tech names such as Meta and Tesla, as well as SpaceX, which reports after the bell Tuesday. Of the 47 S&P 500 companies that have reported third-quarter results, 85% have beaten expectations, but most tech earnings are still to come. Sameer Samana of Wells Fargo Investment Institute sees the AI selloff as a 'reality check' rather than a full-blown unraveling, though pressure may last through the midterms.
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