US stock futures rose on Wednesday, October 21, as investors tracked the latest corporate earnings and developments in the artificial intelligence (AI) sector, with results from Tesla and Meta Platforms due later in the day.
S&P 500 futures gained 0.2%, while Nasdaq-100 futures advanced 0.6%. Dow Jones Industrial Average futures rose 105 points, or 0.2%, indicating a mildly positive start for US markets after Wall Street ended the previous session on a mixed note.
SpaceX shares surge; Tesla, Meta earnings in focus
Shares of SpaceX surged around 7% in premarket trading after the Elon Musk-led company reported a 161% year-on-year increase in third-quarter revenue. The performance renewed investor interest in AI-related stocks, with infrastructure and cloud services emerging as key areas of focus.
Musk also said SpaceX and Tesla have formed special committees to discuss a potential merger. Tesla shares rose more than 1% ahead of the electric vehicle maker’s quarterly results, scheduled for release after the US market closes on Wednesday.
Meta Platforms is also set to report earnings after the closing bell. Investors will look for updates on the company’s AI investments and the returns it expects from spending on the technology. The results are among the key earnings events this week as markets assess whether Big Tech companies can sustain growth while committing substantial resources to AI.
For global investors, the performance of major US technology companies remains an important indicator of sentiment towards the AI trade and broader equity markets.
Netflix shares fall after revenue forecast misses estimates
Not all earnings news was positive. Netflix shares fell more than 6% in premarket trading after the streaming company issued a fourth-quarter revenue forecast that missed analysts’ estimates. The company also lowered its advertising revenue guidance for 2026, weighing on its shares.
Wall street ends mixed; Crude oil prices rise
US stocks closed mixed in the previous session. The Dow Jones Industrial Average rose nearly 530 points, or 1%, supported by a rally in 3M shares after the industrial products company raised its full-year profit guidance.
The S&P 500 gained 0.3%, while the Nasdaq Composite ended marginally lower.
Meanwhile, crude oil prices moved higher amid renewed concerns over global supply risks. West Texas Intermediate crude futures rose 1.25% to $99.04 a barrel, while Brent crude futures climbed to around $110 a barrel.
Asian, European markets trade mixed
Asian markets delivered a mixed performance on Wednesday. Japan’s Nikkei 225 rose 0.85%, while South Korea’s Kospi gained 3.29%. Hong Kong’s Hang Seng index fell 0.92% in its final hour of trading, and Australia’s S&P/ASX 200 closed 0.16% higher.
In Europe, the Stoxx 600 advanced 0.4%. France’s CAC 40 rose 0.4%, while Germany’s DAX was last seen trading 0.5% higher.
Investors will now turn their attention to Tesla and Meta’s earnings for further signals on corporate demand, AI spending and the outlook for US equities.