Stocks Climb as SpaceX Results Reignite AI Trade: Markets Wrap
(Bloomberg) — US stock futures rose after strong results from SpaceX eased concerns over whether a global investment spree in artificial intelligence can prove sustainable.
S&P 500 contracts climbed 0.2%, while those for the Nasdaq 100 advanced 0.4%. SpaceX jumped 9% in premarket trading after substantial growth in its AI and satellite internet businesses helped drive last quarter’s earnings well above expectations. Netflix Inc. fell 6.3% on a disappointing forecast.
The upbeat tone was slightly tempered by a fresh leg higher in oil prices. Brent topped $110 a barrel again as attacks on vessels around the Strait of Hormuz threatened shipments and preliminary data pointed to a drawdown in US stockpiles. Treasury yields nudged higher, while the dollar was flat.
The SpaceX earnings figures, coupled with a report that Anthropic PBC may spend $750 billion on computing power in the coming years, helped ease investor concerns after a spell in which worries over valuations and funding strains rattled markets. The slate of earnings continues with Meta Platforms Inc. and Tesla due to report Wednesday.
“SpaceX appears to have provided exactly what the market was looking for: evidence that AI-related demand remains very real,” said Simon Wiersma, chief investment strategist at ING. “That has improved sentiment not only toward SpaceX itself, but towards the broader AI ecosystem.”
In another sign of strong AI spending and demand, server maker Super Micro Computer Inc. rallied 12% in early trading after reporting preliminary quarterly results that topped analysts’ estimates.
Europe’s Stoxx 600 advanced 0.5%, led by gains in technology and real estate stocks. The yield premium of French 10-year bonds over their German peers hit a 15-year high, closing in on 160 basis points.
Despite Wednesday’s gains, the optimism toward European stocks that prevailed for much of the year has faded as elevated oil prices feed into inflation. Soaring bond yields and worries about political instability have also weakened sentiment.
A Bloomberg survey now shows the Stoxx 600 ending the year at 645 points, less than 1% above Tuesday’s close.
Asia’s regional stock benchmark rebounded, with South Korea’s Kospi index outperforming. Elice Inc. surged 30% in Seoul after suffering one of South Korea’s worst IPO debuts on record.
“Investors are bipolar creatures by nature, at least in terms of their mood,” said Stephan Kemper at BNP Paribas Wealth Management Germany. “Strong sets of numbers and constructive guidance, as we saw from SpaceX and Super Micro, are certainly the sort of cure the market needs.”
Corporate News:
Nvidia Corp. is in discussions to invest hundreds of millions of dollars in Firmus Grid Ltd. after the Australian AI cloud company abandoned an initial public offering, the Information reported. Netflix Inc. reported its slowest sales jump in three years and forecast a fourth consecutive quarter of slowing growth, a projection that amplifies concerns about the performance of the world’s leading online TV network. EssilorLuxottica SA posted third-quarter revenue that surpassed analysts’ estimates, fueling a double-digit rebound in the shares, as sales were powered by growth in the Ray-Ban maker’s traditional eyewear businesses. Adidas AG lifted its full-year earnings forecast after booking US tariff refunds and keeping prices high on hot-selling apparel and sports products. DayOne Data Centers Ltd. is weighing options for its US initial public offering, including a potential delay or size cut, as volatility around data centers increases, according to people familiar with the matter. Some of the main moves in markets:
Stocks
The Stoxx Europe 600 rose 0.5% as of 10:51 a.m. London time S&P 500 futures rose 0.2% Nasdaq 100 futures rose 0.4% Futures on the Dow Jones Industrial Average were little changed The MSCI Asia Pacific Index rose 1% The MSCI Emerging Markets Index rose 1% Currencies
The Bloomberg Dollar Spot Index was little changed The euro fell 0.1% to $1.1223 The Japanese yen was little changed at 158.13 per dollar The offshore yuan was little changed at 6.6752 per dollar The British pound rose 0.1% to $1.3398 Cryptocurrencies
Bitcoin rose 0.8% to $83,372.6 Ether rose 0.5% to $2,457.84 Bonds
The yield on 10-year Treasuries advanced one basis point to 5.12% Germany’s 10-year yield advanced two basis points to 3.42% Britain’s 10-year yield was little changed at 5.41% Commodities
Brent crude rose 1.4% to $110.33 a barrel Spot gold was little changed This story was produced with the assistance of Bloomberg Automation.
–With assistance from Michael Msika.
©2026 Bloomberg L.P.
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