Wall Street: Nasdaq up 1.1% on SpaceX and chips, Tesla slips after results

Data as of: Closing prices Wednesday 21 October 2026; Asia and futures on Thursday morning, 22 October (to about 06:45 CEST). US trading opens at 15:30 CEST

On Wednesday the Nasdaq Composite rose 1.05% (278.04 points) to 26,702.86, the S&P 500 gained 0.58% to 7,757.17 and the Dow Jones added 0.69% (360.21 points) to 52,856.09 (AP). The S&P 500 is less than 0.8% below its record set earlier this month. Chip stocks were also in demand. The SOX chip index had only ended a run of eight straight losing days on Monday – its longest since 2008 (Reuters, Yahoo Finance). Tech led, while communication stocks fell.

SpaceX jumped 7.8% after its first profit as a public company; Elon Musk called a merger with Tesla "a good idea", which also lifted Tesla 3.4%. Super Micro Computer rose 9.5% on a higher revenue forecast for artificial intelligence (AI) servers, and Nvidia gained 2.5%. Winnebago (+10.7%) and Capital One (+2.5%) beat profit forecasts. Netflix lost 5.3% on its weak outlook, and AT&T fell 6.4% even though profit beat expectations (AP).

After the close Meta rose just over 2%: revenue grew 26% to $64.6 billion, more than expected. But earnings per share were only $3.83 because of a $9.89 billion legal charge. From January 2027, Meta plans to issue one new non-voting share for each existing share – the effect of a 2-for-1 split. Tesla reported revenue of $28 billion (expected $28.3 billion) and cut this year's investment plan to about $20 billion; the stock rose at first, then fell. Lam Research lost about 7% after hours, and IBM also fell.

The 10-year US Treasury yield stayed at 5.12%. The yield is the annual interest the government pays on new debt. Brent crude ended almost unchanged at $108.82 a barrel (AP). On Thursday morning Asian markets are falling – Kospi 2.6%, Nikkei 1.6%, Hang Seng 2.7% – on doubts about AI spending. Brent is up 1.6% at $110.55. Nasdaq 100 futures are down about 1%.