Tech stocks led the market higher on Wednesday as SpaceX (SPCX) shares surged after better-than-expected results, reviving optimism around the AI trade. Tesla (TSLA) rose after CEO Elon Musk, who also leads SpaceX, hinted at a possible merger between the two companies, while Nvidia (NVDA), AMD (AMD), Micron (MU) and SK Hynix (SKHY) gained. Supermicro (SMCI) jumped 13% after raising its fiscal first-quarter revenue forecast, while energy stocks slipped as Brent crude fell to $108 per barrel and WTI hovered near $97. Tesla and Meta (META) were scheduled to report earnings after the close on Wednesday.
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Related tickers and likely impact
QQQ
▲ Likely positiveInvesco QQQ Trust
Relevance: medium
| Market | US stocks |
|---|---|
| Sector | ETF |
| Close on 10/20/2026 | 717.52 |
| Change that session | -0.12% |
SPY
▲ Likely positiveSPDR S&P 500 ETF
Relevance: low
| Market | US stocks |
|---|---|
| Sector | ETF |
| Close on 10/20/2026 | 769.01 |
| Change that session | +0.33% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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