Nasdaq climbs over 1% as SpaceX, Super Micro boost AI sentiment
SPY•The Nasdaq rose 1.28% as SpaceX shares gained 7% after the company posted its first profit as a public company, and Super Micro Computer jumped more than 9% after forecasting quarterly revenue and profit margin above estimates. Netflix fell 4.5% after issuing a weaker-than-expected fourth-quarter profit forecast.
1. AI stocks lift Nasdaq
The Nasdaq led Wall Street higher on Wednesday, gaining 1.28%, while the S&P 500 rose 0.73% and the Dow added 0.58%. Results from SpaceX and Super Micro Computer improved investor appetite for AI-related stocks.
2. Company results drive moves
SpaceX shares rose 7% after the rocket and space technology company posted its first profit as a public company. Elon Musk said a merger of SpaceX and Tesla would be “a good idea,” and Tesla shares climbed 3.5%. Super Micro Computer gained more than 9% after forecasting quarterly revenue and profit margin above Wall Street estimates; HPE rose 4.2% and Dell gained 5%.
3. Other stocks retreat
Netflix fell 4.5% after issuing a weaker-than-expected forecast for fourth-quarter profit. AT&T dropped 6.3% despite beating third-quarter revenue and profit expectations, while Abbott Laboratories fell 3.7% after cutting its 2026 sales growth forecast.
