Traders work on the floor of the New York Stock Exchange on August 7, 2026.
Gina Moon | Reuters
Wednesday’s stock price is space x and tesla It brought investors back to technology.
of Nasdaq Composite It added 1.05% to end at 26,702.86. S&P500 It rose 0.58% to 7,757.17. of Dow Jones Industrial Average It rose 360.21 points (0.69%) to close at 52,856.09.
Shares in Elon Musk’s SpaceX rose 7% after the company announced a 161% increase in third-quarter sales. Musk also said SpaceX and his automaker Tesla have formed a special committee to discuss a merger. Tesla is scheduled to report earnings later, and its stock price rose more than 3%.
SpaceX’s artificial intelligence business has grown ninefold, reigniting enthusiasm for trade stocks. shares of advanced micro device While progress has been made by more than 3%, Nvidia‘s stock price rose more than 2%. shares of micron technology and marvel technology It grew by nearly 2%. of VanEck Semiconductor ETF (SMH) It rose to nearly 2%.
“SpaceX is signaling that it still has a long runway, but I don’t think the underlying tension or experience of being overly enthusiastic and over-exploiting things has changed,” said Joe Ziddle, chief market strategist at Cresset.
Concerns over the sustainability of AI trade have weighed on market sentiment lately, with traders focused on debt-backed AI investments and whether infrastructure demand will justify corporate spending. However, Zidle expects the current reporting period to show continued growth in demand for many AI companies.
“As we near the end of earnings season and look back, SpaceX is not an anomaly, it’s not a phenomenon. In fact, I think it’s going to become more common in this industry,” he said.
Investors are looking for more insight into AI trading on Wednesday. meta platform Set to report after the bell. Earlier this month, the company unveiled its latest AI model, Muse Wonder, which is available only to paid users.
Traders are also keeping an eye on the following results: IBM and southwest airlinesboth expire after the transaction closes.
Netflix There was a significant lag in Wednesday’s session. The streaming giant’s stock price fell more than 5% after its full-year revenue forecast fell short of analysts’ expectations. The company also lowered its full-year advertising revenue forecast.
