NEW YORK — U.S. stocks rose as SpaceX's strong earnings lifted investor sentiment across technology shares.
The Dow Jones Industrial Average closed at 52,856.09 on the 21st, up 360.21 points, or 0.69%, from the previous session. The Standard & Poor's 500 rose 44.60 points, or 0.58%, to 7,757.17, while the Nasdaq Composite climbed 278.04 points, or 1.05%, to 26,702.86.
Among the largest companies by market capitalization, Nvidia gained 2.54%, Apple 1.32%, Microsoft 0.20%, TSMC 1.60%, Facebook parent Meta 0.47%, Broadcom 1.03%, SK hynix 2.48%, Micron 1.96% and AMD 3.36%. Amazon fell 0.10% and Google parent Alphabet dropped 1.62%, bucking the broader rally.
Stocks opened higher and held gains through the session as investors absorbed SpaceX's results, released after the previous close. At its earnings briefing, SpaceX said it had turned a profit for the first time since going public. Chief Executive Elon Musk also described a merger between SpaceX and Tesla as "a good idea," fueling expectations of economies of scale. SpaceX shares surged 7.79% and Tesla rose 3.41%.
Super Micro Computer, an AI server maker, climbed 9.55% after raising its preliminary revenue guidance for the first quarter of fiscal 2027, covering July through September. The company lifted its first-quarter revenue forecast to a range of $18.5 billion to $19.5 billion from $14.5 billion to $15.5 billion. Peers Dell and Hewlett Packard Enterprise rose 5.27% and 3.71%, respectively. The Philadelphia Semiconductor Index advanced 1.97% on improved sentiment toward AI-related shares.
CoreWeave, which had stoked concerns over AI infrastructure spending, swung between gains and losses of more than 4% during the session before finishing down 0.50%. Netflix slid 5.31% on disappointment over third-quarter results disclosed after the previous close. The streaming company narrowed its full-year revenue forecast to $51.1 billion from a range of $51 billion to $51.4 billion.
Oil prices were mixed as heightened military tension in the Middle East offset expectations for a resumption of peace talks between Russia and Ukraine. On the New York Mercantile Exchange, West Texas Intermediate crude for December delivery settled at $97.15 a barrel, down 67 cents, or 0.68%, from the previous session. Brent crude for December delivery on London's ICE Futures Europe rose 3 cents, or 0.03%, to $108.82 a barrel.
Reuters reported late in the session that the U.S. State Department was preparing to order the departure of some staff and family members from its embassies in the Gulf region. Russia's Kremlin also said President Vladimir Putin had agreed to resume peace talks with Ukraine as early as next month, mediated by the United States.
