Stocks finished higher across the board on Wednesday, as upbeat earnings from SpaceX (SPCX) and renewed enthusiasm for AI stocks helped fuel a tech rally. Shares of the aerospace company jumped after it reported a 161% surge in quarterly revenue, while Tesla (TSLA) climbed amid reports the two companies are exploring a potential merger. Both the Nasdaq and Dow jumped triple digits, while the S&P 500 posted a solid gain as well. The Russell 2000 extended last session's surge, clocking a third-straight win.
Elsewhere, Netflix (NFLX) struggled after disappointing guidance, while Meta Platforms (META) made headlines after a federal judge ordered the company to pay a $25 billion fine over user data privacy practices. Investors are now turning their attention to Meta's earnings report after the closing bell.
Commodities Trade Muted
Oil prices were mixed as investors kept an eye on Middle East supply disruptions. Brent crude rose 3 cents, while December-dated West Texas Intermediate (WTI) futures fell 67 cents to settle at $97.15 a barrel.
Gold prices inched higher. December-dated gold futures rose 0.2% to $4,152.60 per ounce.
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