--- title: "SpaceX Jumps 10%, Nasdaq 100 Rises as AI Trade Returns: Stock Market Today" type: "News" locale: "en" url: "https://longbridge.com/en/news/302592271.md" description: "SpaceX shares surged 10% after reporting Q3 revenue of $14.6 billion, significantly beating forecasts and reviving the AI trade. This rally lifted the Nasdaq 100 by 1.3%, while the S&P 500 gained 0.5%. Super Micro Computer also rose nearly 10% on raised guidance. Conversely, Netflix and AT&T declined due to mixed earnings results and competitive concerns from Starlink." datetime: "2026-10-21T17:02:19.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/302592271.md) - [en](https://longbridge.com/en/news/302592271.md) - [zh-HK](https://longbridge.com/zh-HK/news/302592271.md) generator: "portal-rs" --- # SpaceX Jumps 10%, Nasdaq 100 Rises as AI Trade Returns: Stock Market Today Shares of **Space Exploration Technologies Corp. (NASDAQ:SPCX)** jumped 10% on Wednesday after a third quarter that blew past forecasts, reviving the artificial intelligence trade and lifting the Nasdaq 100 1.3% by midday, while the broader S&P 500 gained 0.5%. SpaceX reported third-quarter revenue of $14.6 billion, up 161% from a year earlier, and adjusted EBITDA of $8.8 billion. Its Super Intelligence unit, formerly the AI division, brought in $7.56 billion, up 830%. **• SpaceX stock is showing exceptional strength. What’s behind SPCX gains?** The company guided first-quarter 2027 revenue to $33 billion to $37 billion, against Wall Street estimates near $23 billion. SpaceX’s gain was its biggest one-day move since Aug. 7, when the stock climbed 15.8%, and added roughly $200 billion in market value in a single session. JPMorgan more than doubled its price target to $500 from $240. **Read Also: Elon Musk's Net Worth Tops $1 Trillion as SpaceX Stock Rallies 10%** The S&P 500 rose 0.5% to 7,753 points. The Dow Jones Industrial Average added 151 points, or 0.3%, to 52,647. The Nasdaq 100 climbed 1.3% to 29,863. Within Magnificent Seven stocks **Tesla Inc. (NASDAQ:TSLA)** gained 3.5% ahead of its results after the close, **Meta Platforms Inc. (NASDAQ:META)** rose 2.4%, **Nvidia Corp. (NASDAQ:NVDA)** advanced 1.9% and **Apple Inc. (NASDAQ:AAPL)** added 1.3%. **Alphabet Inc. (NASDAQ:GOOGL)** fell 2.2%, while **Microsoft Corp. (NASDAQ:MSFT)** and **Amazon.com Inc. (NASDAQ:AMZN)** were flat. The small-cap Russell 2000 rose 0.2% to 2,783. ## **Bonds Hold Steady, Crude Falls Despite Bigger-Than-Expected Inventory Draw** Treasury yields barely moved. The 10-year yield was little changed at 5.11%, the 2-year yield rose 2 basis points to 4.80% and the 30-year yield eased 1 basis point to 5.42%. Oil slipped despite a bigger-than-expected drop in U.S. stockpiles. The Energy Information Administration reported a 3.06-million-barrel draw in crude inventories last week, against the 800,000-barrel decline expected, and a 2.95-million-barrel drop in gasoline stocks. West Texas Intermediate crude fell 1.1% to $96.79 a barrel, and Brent eased 0.4% to $108.34. Natural gas dropped 4.5% to $2.83 per million British thermal units. Gold edged up 0.2% to $4,150 an ounce, while silver slipped 0.6% to $57.67. **Bitcoin** (CRYPTO: BTC) rose 1.9% to about $84,475. ## **Wednesday’s Performance in Major U.S. Indices** | Index | Last | % Change | MTD | YTD | | ------------ | --------- | -------- | ------ | ------- | | S&P 500 | 7,753.07 | +0.53% | +1.33% | +13.26% | | Dow Jones | 52,647.01 | +0.3% | +3.42% | +9.54% | | Nasdaq 100 | 29,863.14 | +1.26% | -1.79% | +18.27% | | Russell 2000 | 2,783.29 | +0.24% | -0.49% | +12.14% | *Updated by 12:15 p.m. ET* According to the Benzinga Pro platform: - The **Vanguard S&P 500 ETF (NYSE:VOO)** gained 0.5%. - The **SPDR Dow Jones Industrial Average ETF Trust (NYSE:DIA)** edged up 0.2%. - The **Invesco QQQ Trust (NASDAQ:QQQ)** climbed 1.1%. - The **iShares Russell 2000 ETF (NYSE:IWM)** rose 0.3%. ## **Tech Leads As SpaceX Rewires The AI Trade** The **Technology Select Sector SPDR Fund (NYSE:XLK)** led the S&P 500 sectors with a 1.5% gain, as SpaceX and Super Micro pulled AI hardware names higher. The **VanEck Semiconductor ETF (NASDAQ:SMH)** rose 1.8%, and the **iShares Expanded Tech-Software Sector ETF (BATS:IGV)** added 1.9%. The **Communication Services Select Sector SPDR Fund (NYSE:XLC)** lagged, down 0.8%, weighed by Netflix, Alphabet and AT&T. The **Health Care Select Sector SPDR Fund (NYSE:XLV)** fell by the same margin after **Abbott Laboratories (NYSE:ABT)** dropped 3.5%: its third-quarter adjusted EPS of $1.42 matched estimates, but it cut its full-year comparable sales growth outlook to about 6% and announced plans to spin off its nutrition business. Industrials, financials and utilities rose between 0.5% and 0.8%, while consumer staples and real estate slipped about 0.6%. Among industry funds, the **VanEck Oil Services ETF (NYSE:OIH)** rose 1.8% and the **U.S. Global Jets ETF (NYSE:JETS)** gained 1.8% as crude eased. **Super Micro Computer Inc. (NASDAQ:SMCI)** rallied 9.6% after lifting its fiscal first-quarter revenue outlook to $18.5 billion to $19.5 billion, from $14.5 billion to $15.5 billion, well above the $15.23 billion consensus. It also raised its gross margin forecast to 12.0% to 12.5%. Not every earnings print found buyers. **Netflix Inc. (NASDAQ:NFLX)** fell 5% even though third-quarter adjusted EPS of 87 cents beat the 82-cent estimate, as fourth-quarter revenue guidance of $13.4 billion came in just below the $13.5 billion consensus. Needham downgraded the stock to Hold, and JPMorgan trimmed its target to $81 from $85. SpaceX’s ambitions also cut the other way. **AT&T Inc. (NYSE:T)** slid 6.3% despite third-quarter revenue of $32.32 billion, ahead of the $31.67 billion estimate, and a higher full-year adjusted EPS outlook of about $2.40, as investors focused on the competitive threat from Starlink. **EchoStar Corp. (NASDAQ:ECHO)**, which holds a stake in SpaceX, rose 8.1% in tandem with the rocket maker. **Galaxy Digital Inc. (NASDAQ:GLXY)** rallied 8% as Bitcoin climbed, a day after Citi upgraded the stock. **Strategy Inc (NASDAQ:MSTR)** rose 7.4%. **Charles River Laboratories International Inc. (NYSE:CRL)** jumped 7.9% to a 52-week high as drug development and life science tools names rallied together. **Medpace Holdings Inc. (NASDAQ:MEDP)** gained 6.4%, while **Illumina Inc. (NASDAQ:ILMN)** and **Bruker Corp. (NASDAQ:BRKR)** each added 6.1%. On the downside, **Wingstop Inc. (NASDAQ:WING)** fell 6.6% a week before its third-quarter report, after StoneX cut its price target to $185 from $245 on Tuesday, citing a difficult quarter for fast-food chains. Restaurant peers **Chipotle Mexican Grill Inc. (NYSE:CMG)** and **Dutch Bros Inc. (NYSE:BROS)** lost 4.4% and 3.7%, respectively. **DexCom Inc. (NASDAQ:DXCM)** dropped 5.9% after Abbott, its main rival in glucose monitors, lowered its diabetes care outlook to low-to-mid single-digit growth from high single digits. **Dycom Industries Inc. (NYSE:DY)** fell 4.8% with no company-specific news. **Read Also: SpaceX Lifts All Boats: Chip Stocks Claw Back $274 Billion After a $1.6 Trillion Rout** ## **Looking Ahead** Tesla reports after the close, with analysts expecting adjusted EPS of 45 cents on revenue of $28.06 billion. **International Business Machines Corp. (NYSE:IBM)** ($2.85, $16.82 billion), **Lam Research Corp. (NASDAQ:LRCX)** ($2.18, $8.14 billion) and **Texas Instruments Inc. (NASDAQ:TXN)** ($2.44, $5.94 billion) also report. **See More: Top Value Stocks** ## **Wednesday’s Russell 1000 Top Gainers** | Name | % change | | -------------------------------------------------- | -------- | | **Space Exploration Technologies Corp.** | +10.04% | | **Super Micro Computer, Inc.** | +9.6% | | **EchoStar Corporation** | +8.1% | | **Galaxy Digital Inc.** | +8% | | **Charles River Laboratories International, Inc.** | +7.9% | ## **Wednesday’s Russell 1000 Top Losers** | Name | % change | | -------------------------- | -------- | | **Wingstop Inc.** | -6.6% | | **AT&T Inc.** | -6.3% | | **DexCom, Inc.** | -5.9% | | **Netflix, Inc.** | -5% | | **Dycom Industries, Inc.** | -4.8% | *Photo: Shutterstock* ### Related Stocks - [SMCI.US](https://longbridge.com/en/quote/SMCI.US.md) - [SPCX.US](https://longbridge.com/en/quote/SPCX.US.md) - [DDM.US](https://longbridge.com/en/quote/DDM.US.md) - [DIA.US](https://longbridge.com/en/quote/DIA.US.md) - [DSPC.US](https://longbridge.com/en/quote/DSPC.US.md) - [DXD.US](https://longbridge.com/en/quote/DXD.US.md) - [IQQ.US](https://longbridge.com/en/quote/IQQ.US.md) - [IVV.US](https://longbridge.com/en/quote/IVV.US.md) - [IWM.US](https://longbridge.com/en/quote/IWM.US.md) - [LOFF.US](https://longbridge.com/en/quote/LOFF.US.md) - [PSQ.US](https://longbridge.com/en/quote/PSQ.US.md) - [QID.US](https://longbridge.com/en/quote/QID.US.md) - [QLD.US](https://longbridge.com/en/quote/QLD.US.md) - [QNDX.US](https://longbridge.com/en/quote/QNDX.US.md) - [QQEW.US](https://longbridge.com/en/quote/QQEW.US.md) - [QQQ.US](https://longbridge.com/en/quote/QQQ.US.md) - [QQQE.US](https://longbridge.com/en/quote/QQQE.US.md) - [QQQM.US](https://longbridge.com/en/quote/QQQM.US.md) - [SCA.US](https://longbridge.com/en/quote/SCA.US.md) - [SDOW.US](https://longbridge.com/en/quote/SDOW.US.md) - [SDS.US](https://longbridge.com/en/quote/SDS.US.md) - [SH.US](https://longbridge.com/en/quote/SH.US.md) - [SMCC.US](https://longbridge.com/en/quote/SMCC.US.md) - [SMCL.US](https://longbridge.com/en/quote/SMCL.US.md) - [SMCX.US](https://longbridge.com/en/quote/SMCX.US.md) - [SMCY.US](https://longbridge.com/en/quote/SMCY.US.md) - [SMCZ.US](https://longbridge.com/en/quote/SMCZ.US.md) - [SMYY.US](https://longbridge.com/en/quote/SMYY.US.md) - [SNK.US](https://longbridge.com/en/quote/SNK.US.md) - [SPAL.US](https://longbridge.com/en/quote/SPAL.US.md) - [SPCF.US](https://longbridge.com/en/quote/SPCF.US.md) - [SPCG.US](https://longbridge.com/en/quote/SPCG.US.md) - [SPCH.US](https://longbridge.com/en/quote/SPCH.US.md) - [SPCM.US](https://longbridge.com/en/quote/SPCM.US.md) - [SPCU.US](https://longbridge.com/en/quote/SPCU.US.md) - [SPDN.US](https://longbridge.com/en/quote/SPDN.US.md) - [SPLG.US](https://longbridge.com/en/quote/SPLG.US.md) - [SPUU.US](https://longbridge.com/en/quote/SPUU.US.md) - [SPXL.US](https://longbridge.com/en/quote/SPXL.US.md) - [SPXS.US](https://longbridge.com/en/quote/SPXS.US.md) - [SPXU.US](https://longbridge.com/en/quote/SPXU.US.md) - [SPY.US](https://longbridge.com/en/quote/SPY.US.md) - [SQQQ.US](https://longbridge.com/en/quote/SQQQ.US.md) - [SSO.US](https://longbridge.com/en/quote/SSO.US.md) - [SSPC.US](https://longbridge.com/en/quote/SSPC.US.md) - [TQQQ.US](https://longbridge.com/en/quote/TQQQ.US.md) - [UDOW.US](https://longbridge.com/en/quote/UDOW.US.md) - [UPRO.US](https://longbridge.com/en/quote/UPRO.US.md) - [VOO.US](https://longbridge.com/en/quote/VOO.US.md) - [YSPC.US](https://longbridge.com/en/quote/YSPC.US.md) - [.DJI.US](https://longbridge.com/en/quote/.DJI.US.md) - [.NDX.US](https://longbridge.com/en/quote/.NDX.US.md) - [.SPX.US](https://longbridge.com/en/quote/.SPX.US.md) - [AAPL.US](https://longbridge.com/en/quote/AAPL.US.md) - [AMZN.US](https://longbridge.com/en/quote/AMZN.US.md) - [GOOGL.US](https://longbridge.com/en/quote/GOOGL.US.md) - [META.US](https://longbridge.com/en/quote/META.US.md) - [MSFT.US](https://longbridge.com/en/quote/MSFT.US.md) - [NFLX.US](https://longbridge.com/en/quote/NFLX.US.md) - [NVDA.US](https://longbridge.com/en/quote/NVDA.US.md) - [T.US](https://longbridge.com/en/quote/T.US.md) - [TSLA.US](https://longbridge.com/en/quote/TSLA.US.md) ## Related News & Research - [Warren Buffett's Successor, Greg Abel, Just Went Shopping in the Tech Sector Again!](https://longbridge.com/en/news/302535520.md) - [The AI Trade Is About to Split in Two](https://longbridge.com/en/news/302610804.md) - [Rocket Lab Just Had Another Setback. 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