US Stocks Rise on Tech Gains
US stock indices closed higher on Wednesday, with the S&P 500 rising 0.6%, the Nasdaq gaining 1.1%, and the Dow adding 360 points, as upbeat results from SpaceX and Super Micro Computer revived optimism about AI demand. SpaceX surged 7.8% after Elon Musk said a merger with Tesla would be “a good idea,” while the company reported its first profit as a public entity. Tesla gained 3.4%, while other space stocks also advanced, including Rocket Lab (+5.4%), Planet Labs (+2.3%), and Intuitive Machines (+3.5%). Super Micro jumped 9.5% after issuing a strong quarterly outlook, lifting HPE (+3.7%) and Dell (+5.3%). Chipmakers also rose, with Nvidia up 2.5%, Intel gaining 1.3%, and AMD advancing 3.4%. Meanwhile, Netflix fell 5.3% after issuing a weaker-than-expected fourth-quarter profit forecast, days after announcing workforce cuts. AT&T dropped 6.4% despite beating earnings estimates, while Elevance Health lost 1.4% despite raising its 2026 profit outlook.
US stock indices closed higher on Wednesday, with the S&P 500 rising 0.6%, the Nasdaq gaining 1.1%, and the Dow adding 360 points, as upbeat results from SpaceX and Super Micro Computer revived optimism about AI demand. SpaceX surged 7.8% after Elon Musk said a merger with Tesla would be “a good idea,” while the company reported its first profit as a public entity. Tesla gained 3.4%, while other space stocks also advanced, including Rocket Lab (+5.4%), Planet Labs (+2.3%), and Intuitive Machines (+3.5%). Super Micro jumped 9.5% after issuing a strong quarterly outlook, lifting HPE (+3.7%) and Dell (+5.3%).
Chipmakers also rose, with Nvidia up 2.5%, Intel gaining 1.3%, and AMD advancing 3.4%. Meanwhile, Netflix fell 5.3% after issuing a weaker-than-expected fourth-quarter profit forecast, days after announcing workforce cuts. AT&T dropped 6.4% despite beating earnings estimates, while Elevance Health lost 1.4% despite raising its 2026 profit outlook.