Market
October 21, U.S. stocks opened on a firmer footing as investors digested upbeat tech earnings and cooler Treasury yields. The Dow Jones rose 0.15%, the S&P 500 advanced 0.27% and the tech-heavy Nasdaq rallied 0.63%, setting the tone for a risk-on session led by semiconductors and growth names.
Gainers dominated early trading: SUPER MICRO COMPUTER INC surged 12.01% on index-inclusion buzz, while SpaceX jumped 8.81% after a brokerage initiated coverage at “buy.” Direxion Daily MSCI South Korea Bull 3x Shares climbed 8.20% alongside a rally in Asian equities. Leveraged chip play Tradr 2X Long SNDK Daily ETF gained 6.99%, and clean-energy name Bloom Energy Corp added 6.67% on a multiyear supply pact. Other notable advancers included Direxion Daily TSLA Bull 2X Shares up 6.64% and Direxion Daily Semiconductors Bull 3x Shares up 6.37%. On the downside, Direxion Daily Semiconductors Bear 3x Shares fell 6.34%, Netflix slid 5.56% on soft guidance, and Alphabet eased 2.06% amid regulatory worries.
Broader tech strength persisted: Marvell Technology rallied 3.72%, Tesla Motors rose 3.34%, Micron Technology added 3.27%, Advanced Micro Devices improved 2.89%, CoreWeave, Inc. gained 2.90%, Silicon Motion Technology climbed 2.63% and Intel advanced 2.19% as investors rotated into AI and memory chip leaders.
News
Netflix slumps after subscriber miss. The streaming giant reported lower-than-expected net additions, citing fierce competition for viewer attention. Shares fell as analysts trimmed price targets, raising concerns over growth momentum.
Alphabet faces antitrust pressure. Testimony in the ongoing DOJ case highlighted internal emails on search-deal dominance, rekindling breakup fears. The stock weakened as investors weighed potential remedies and fines.
Tesla Motors delivers record quarter. The EV leader posted all-time-high global deliveries and reaffirmed its margin target, prompting multiple brokerages to boost forecasts. Shares gained on optimism about Cybertruck ramp-up.
NVIDIA unveils next-generation AI chip. At a major tech conference the company introduced its Blackwell platform, promising twice the performance per watt of current models. The move strengthened sentiment in data-center suppliers.
Micron Technology boosts outlook. Management lifted revenue guidance, citing improving memory prices and strong AI server demand. Investors cheered the signal that the cyclical downturn is easing.
Bloom Energy Corp inks data-center deal. The fuel-cell maker will supply 100 MW of solid-oxide systems to a top hyperscaler, expanding its footprint in clean power for AI workloads. The stock rallied on expectations of higher backlog.
SUPER MICRO COMPUTER INC eyed for S&P 500 inclusion. Media reports said the index committee is reviewing the fast-growing server maker, sparking a surge as funds may need to buy shares ahead of a potential addition.
Advanced Micro Devices attracts upgrades. Several analysts raised price targets ahead of next week’s earnings, citing market-share gains in AI accelerators. The chipmaker’s shares traded higher in early action.
Jobless claims hit three-month low. Initial filings for unemployment benefits unexpectedly declined, signaling continued labor-market resilience and supporting hopes for a soft economic landing.
Fed Governor signals patience on rates. In a morning speech, a key policymaker said the recent rise in long-term yields reduces the need for further hikes, helping ease Treasury rates and underpinning equity sentiment.
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