Dow adds 500 points as Nasdaq futures jump on SpaceX earnings

what happened

According to CNBC-TV18, US benchmark indices finished Tuesday mixed, but futures climbed as investors digested a wave of quarterly reports, most of which beat expectations.

The Dow Jones closed more than 500 points higher in regular trading, helped by 3M, whose shares rose nearly 5% after strong results and a raised profit outlook. The S&P 500 gained 0.3%, while the Nasdaq was roughly flat.

Nasdaq futures rose more than 200 points after Elon Musk's SpaceX reported revenue, profit and first-quarter 2027 guidance above expectations. Musk also said the boards of Tesla and SpaceX have formed special committees to explore a possible merger, and SpaceX shares gained 8% after hours. Super Micro projected revenue of $18.5 billion to $19.5 billion, versus about $15 billion expected on average by analysts, and its stock jumped 15%. Netflix, by contrast, reported a third straight quarter of slowing revenue growth and guided for a fourth; its shares fell 7%.

Against this backdrop, attention briefly moved away from oil: Brent touched an intraday high of $112 a barrel before settling near $109. Bloomberg said reports of a near diplomatic deal to end the US-Iran war were inaccurate, and Kpler counted more than 18 vessels attacked in the Persian Gulf over the past two weeks.

why it matters

The futures rally rests on corporate earnings rather than macro data, as no major economic reports are scheduled today. Kpler also noted that trend-following commodity traders are fully long Brent and WTI, so any bearish news could trigger a sharp unwind. Results from Meta, Texas Instruments, IBM and Tesla are due after the closing bell.

market impact

US equities and Nasdaq futures: strong earnings support tech stocks, while Netflix faces pressure

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