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 0.3%, while those for the Nasdaq 100 advanced 0.6%. SpaceX jumped 8% in premarket trading after substantial growth in its AI and satellite internet businesses helped drive last quarter’s earnings well above expectations. Elon Musk’s endorsement of a possible tie-up between SpaceX and Tesla Inc. added to the gains.
The upbeat tone was slightly tempered by a fresh leg higher in oil. Brent crude neared $110 a barrel as attacks on vessels around the Strait of Hormuz continued to menace global supplies. Treasury yields were little changed, while the dollar was flat.
The SpaceX figures, coupled with a report that Anthropic PBC may spend $750 billion on computing power in the coming years, helped to ease 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 toward the broader AI ecosystem.”
In another sign of strong AI spending and demand, server maker Super Micro Computer Inc. rallied 11% in early trading after reporting preliminary quarterly results that topped analysts’ estimates. Meanwhile, Netflix Inc. fell 6.6% on a disappointing forecast.
Europe’s Stoxx 600 advanced 0.6%, 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, approaching 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.”
What Bloomberg Strategists Say:
“Markets are on edge, but the risks still look more contained than systemic. With US yields sticky above 5%, financing concerns aren’t going away. But investors still look to be separating winners from losers and rotating towards quality rather than abandoning equities.”
Corporate News:
AT&T Inc. reported revenue and profit that surpassed Wall Street’s expectations in the third quarter, buoyed by growth in phone and internet services. 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 0.6% as of 12:28 p.m. London time S&P 500 futures rose 0.3% Nasdaq 100 futures rose 0.7% Futures on the Dow Jones Industrial Average were little changed The MSCI Asia Pacific Index rose 1.1% The MSCI Emerging Markets Index rose 1% Currencies
The Bloomberg Dollar Spot Index was little changed The euro was little changed at $1.1231 The Japanese yen rose 0.2% to 157.92 per dollar The offshore yuan was little changed at 6.6749 per dollar The British pound rose 0.1% to $1.3394 Cryptocurrencies
Bitcoin rose 0.8% to $83,444.67 Ether rose 0.8% to $2,464.72 Bonds
The yield on 10-year Treasuries was little changed at 5.10% Germany’s 10-year yield advanced one basis point to 3.41% Britain’s 10-year yield declined two basis points to 5.40% Commodities
Brent crude rose 0.8% to $109.62 a barrel Spot gold rose 0.1% to $4,129.71 an ounce This story was produced with the assistance of Bloomberg Automation.
–With assistance from Michael Msika.
©2026 Bloomberg L.P.
See more Swissinfo articles in your Google results. Learn more
