Nasdaq climbs on SpaceX-Tesla merger talk while French bond yields near 2002 highs
According to WSJ, the Nasdaq gained over 1% as SpaceX shares rose and French 10-year yields topped 5%, while oil slipped. Market roundup for October 21.
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what happened
The Nasdaq was up more than 1%, buoyed by enthusiasm after SpaceX's earnings call on Tuesday evening. Per the Wall Street Journal, Elon Musk sounded optimistic on that call about a possible SpaceX-Tesla merger. SpaceX shares were still up nearly 8%, while Tesla gained about 3%. Chip stocks including Nvidia also advanced after upbeat remarks from CEO Jensen Huang at a keynote in Berlin.
In France, the 10-year government bond yield moved above 5% intraday and was heading for its highest close since 2002. The move followed riots that broke out after several weeks of student-led demonstrations. Oil went the other way, giving back early gains: traders weighed a rebound in Middle East crude exports against lingering risks to tanker traffic in the Hormuz waterway and strikes on Saudi facilities. Brent futures slipped roughly 0.2%.
why it matters
For markets, the picture combines several signals. A rising French 10-year yield raises borrowing costs for Paris and brings political risk in the euro area back into focus. Tech gains rest on speculation about a SpaceX-Tesla deal, which has not been announced. Oil reflects a tug-of-war between returning supply and ongoing shipping risks in the region.
market impact
Nasdaq and Tesla shares: merger hopes and chip demand support sentiment; French government bonds: yields above 5% add pressure on prices
instruments
sources
- What's Moving Markets Today? — WSJ, 21 October 2026 at 18:08 UTC
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