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Wall StreetSpaceXS&P 500Nasdaq
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Related tickers and likely impact
QQQ
▲ Likely positiveInvesco QQQ Trust
Relevance: medium
| Market | US stocks |
|---|---|
| Sector | ETF |
| Close on 10/21/2026 | 725.20 |
| Change that session | +1.05% |
SPY
▲ Likely positiveSPDR S&P 500 ETF
Relevance: medium
| Market | US stocks |
|---|---|
| Sector | ETF |
| Close on 10/21/2026 | 773.09 |
| Change that session | +0.53% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
Related news
- Wall Street climbs after SpaceX third - quarters earnings
Wall Street rose on Wednesday as SpaceX shares jumped sharply after its third-quarter report showed 161% revenue growth and a ninefold increase in its AI business. The S&P 500 gained 44.65 points (0.58%) to 7,757.22, the Dow Jones Industrial Average added 361.22 points (0.69%) to 52,857.10, and the NASDAQ Composite led with a 278.04-point (1.05%) gain to 26,702.86. The U.S. dollar slipped modestly against most major currencies in quiet trading. In Europe, Germany's DAX rose 1.35% to 25,645.04, while in Asia Hong Kong's Hang Seng fell 0.90% and Japan's Nikkei 225 rose 0.85% to 64,621.24.
- Wall Street climbs after SpaceX third - quarters earnings
- Wall Street climbs after SpaceX third - quarters earnings
- Wall Street climbs after SpaceX third - quarters earnings
- Wall Street climbs after SpaceX third-quarter earnings
SpaceX shares jumped Wednesday, lifting the Nasdaq and the broader market after the company reported 161% third-quarter revenue growth and ninefold growth in its AI business. Cresset chief market strategist Joe Zidle said SpaceX is not an anomaly and that such strong results may become more common across the sector. The S&P 500 rose 0.58% to 7,757.22, the Dow gained 0.69% to 52,857.10, and the Nasdaq Composite climbed 1.05% to 26,702.86 on technology strength. The dollar edged lower against most major currencies in a quiet session, while Germany's DAX gained 1.35% and the S&P/TSX rose 0.60%, and Hong Kong's Hang Seng fell 0.90% and Japan's Nikkei 225 rose 0.85%.
- How major US stock indexes fared Wednesday 10/21/2026
U.S. stocks rose Wednesday, helped by strong earnings from SpaceX, Capital One Financial and other large companies. The S&P 500 gained 0.6% to 7,757.17, moving closer to its all-time high set earlier this month, while the Dow rose 0.7% to 52,856.09 and the Nasdaq composite climbed 1.1% to 26,702.86. SpaceX's profit beat analyst expectations by a wide margin and lifted AI-related stocks and Tesla, offsetting losses in Netflix and other shares hit by growth concerns. For the week, the S&P 500 is up 1.3%, and for the year it is up 13.3%.
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- Musk's wants to merge SpaceX and Tesla: Here's what to know
Musk said SpaceX and Tesla have formed special committees to study a merger, which would be worth about $3.5 trillion combined and would be the largest corporate deal in history. SpaceX, valued at about $2 trillion after a record listing this year, absorbed Musk's AI startup xAI in February, while Tesla is valued at about $1.5 trillion. Musk holds about 82 percent of SpaceX's voting power but only about 20 percent at Tesla. Dan Ives puts the odds of a deal at 90 percent by early 2027, though Musk called the requirement of a majority of all Tesla shares 'quite a high hurdle'. Loyal retail investors hold an estimated 25 to 27 percent of Tesla shares, and legal obstacles appear slight because both companies moved their incorporation to Texas from Delaware.
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- Nasdaq sell-off: A momentum unwind 'for the record books'
Matt Stucky, chief portfolio manager for equities at Northwestern Mutual Wealth Management, calls Thursday’s sell-off in the Nasdaq Composite (^IXIC) a momentum unwind “for the record books.” He says the market spent the first half of 2026 driven by a beta and momentum trade led by semiconductors, but in the third quarter, as rates rose, money shifted into quality stocks. He does not think the sell-off is justified by fundamentals, arguing that institutional portfolio managers swapping out of factor positions can drag down whole baskets of stocks. In semiconductors, spot rental rates for Nvidia Blackwell chips are higher than a month ago, showing tightening compute supply, even as financing costs rise and investors worry about neocloud business models and the rising cost of insuring their bonds.
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Meta says Mark Zuckerberg will remain in California for eight years and has created a new stock plan that could help cover his taxes if Proposition 40, a 5% tax on Californians worth over $1 billion, passes on Election Day on Nov. 3. According to a filing released with its third-quarter earnings, Meta will issue non-voting Class C shares starting in January, and Zuckerberg can sell or transfer up to 20% of the shares granted to him without affecting his majority voting control. The filing says Zuckerberg’s leadership is crucial to the company’s growth and its AI ambitions, including Meta Superintelligence Labs. Most of the tech industry opposes the measure, while a recent Citrin-Politico poll found 46% in favor and 43% against, suggesting it may fall short of the majority support it needs.
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