US Stock Futures Advance on AI Earnings Boost: Markets Wrap
(Bloomberg) — US equity-index futures rose along with contracts for Asian equities as strong earnings from some of the biggest beneficiaries of the artificial intelligence boom revived optimism over the tech trade.
Futures for the Nasdaq 100 climbed 0.7% after SpaceX reported quarterly net income that more than doubled estimates, sending its shares up around 7% in extended trading. Contracts for the S&P 500 rose 0.2% after the underlying benchmark advanced 0.3% on Tuesday. Equity-index futures for Australia, Japan and South Korea all pointed to gains.
Super Micro Computer Inc. also topped expectations, lifting AI-infrastructure shares in extended trading. The company surged 15% in post-market trading, while Netflix Inc. fell after issuing a disappointing forecast. In Australia, Nextdc Ltd. shares plunged 44% after the data-center developer cut its outlook and renewed its capital expenditure program.
Elsewhere, oil steadied after a choppy session on Tuesday that saw traders parse conflicting headlines on efforts to end the US-Iran war. Brent crude settled near $109 a barrel. Long-term Treasuries outperformed, weighing on the dollar.
The results offered some reassurance after concerns over AI valuations and financing rattled technology shares last week. Attention now turns to a packed earnings slate for signs that growth can justify the billions being poured into computing infrastructure, with Meta Platforms Inc. and Tesla Inc. due to report Wednesday.
“Clear earnings beats and constructive corporate updates are helping to ease some of the AI anxiety that has surfaced in recent sessions,” said Tim Waterer, chief market analyst at KCM Trade. “The next test comes with Meta and Tesla. If those reports deliver similarly strong results and guidance, it could go some way toward reigniting broader AI enthusiasm and giving the sector more sustained momentum.”
Elon Musk’s satellite, rocket and AI conglomerate posted $4.4 billion in net income for the quarter ended September, compared with analysts’ average estimate of $1.88 billion. Revenue surged 161% from a year earlier and also beat expectations.
Separately, Musk said SpaceX and Tesla Inc. have formed special committees to explore a potential merger, a preliminary step toward what would rank as the largest corporate tie-up of all time.
Attention will be on South Korean markets after shares in the AI infrastructure company Elice Inc. slumped 32% on its trading debut — one of the country’s worst debuts on record.
Some market participants remain wary of the AI sector. Billionaire Ken Griffin said investors are “almost certainly” in the midst of an AI bubble, with many companies still grappling with how much to spend on the technology and its potential to transform the economy.
Elsewhere, long-term Treasuries advanced Tuesday as oil retreated from recent highs, easing inflation concerns. Yields from 10 to 30 years fell three to four basis points, with the benchmark 10-year rate declining to 5.11%.
While oil prices have been a dominant driver of Treasury yields for much of this year, bond investors largely ignored them last week amid a selloff in stocks that have benefited from investment in AI.
“The AI risk-off trade that bubbled up last week is still top of mind in rates markets and seems to be driving the price action today, although the move lower in oil also helped put some downward pressure on yields,” said Izaac Brook, US rates strategist at RBC Capital Markets.
Corporate Highlights:
Anthropic PBC could spend $750 billion on additional computing power in the coming years, according to a Wall Street Journal report, as the company prepares for an initial public offering. United Airlines Holdings Inc. forecast weaker-than-expected earnings for the final three months of the year. Salesforce Inc. plugged a gap in its marketing platform with an agreement to buy Braze Inc. for an enterprise value of about $5.7 billion. 3M Co. topped profit estimates and raised its full-year outlook for the second straight quarter as the maker of Scotch tape and Post-it notes works to rejuvenate its operations. Contemporary Amperex Technology Co. Ltd.’s earnings rose less than analyst estimates in the third quarter, adding to concerns over its longer-term outlook. Some of the main moves in markets:
Stocks
S&P 500 futures rose 0.3% as of 8:19 a.m. Tokyo time Hang Seng futures rose 0.5% Australia’s S&P/ASX 200 rose 0.2% Currencies
The Bloomberg Dollar Spot Index was little changed The euro was little changed at $1.1227 The Japanese yen was little changed at 158.29 per dollar The offshore yuan was little changed at 6.6746 per dollar The Australian dollar was little changed at $0.7009 Cryptocurrencies
Bitcoin rose 0.2% to $82,880.07 Ether was little changed at $2,446.7 Bonds
Australia’s 10-year yield advanced one basis point to 5.26% Commodities
West Texas Intermediate crude rose 0.5% to $98.33 a barrel Spot gold fell 0.2% to $4,116.01 an ounce This story was produced with the assistance of Bloomberg Automation.
–With assistance from Carmeli Argana.
©2026 Bloomberg L.P.
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