US Stock Futures Rise as SpaceX Earnings Lift AI Shares

US stock futures moved higher on Wednesday, October 21, as stronger-than-expected quarterly results from SpaceX renewed interest in artificial intelligence investments ahead of earnings reports from Tesla and Meta. The gains lifted S&P 500 and Nasdaq 100 futures, while investors also assessed weaker Netflix shares and rising crude oil prices. According to market data cited by Yahoo Finance, S&P 500 futures gained 0.3%, while Nasdaq 100 futures advanced 0.5%.

Dow Jones Industrial Average futures were little changed after the major US stock indexes finished Monday's session mixed. SpaceX shares surged as much as 8% in premarket trading after the company reported quarterly results that exceeded expectations. Yahoo Finance attributed the stronger performance to growth in artificial intelligence infrastructure and cloud services.

Elon Musk also said SpaceX and Tesla had established special committees to discuss a potential merger. The development added another corporate consideration as investors prepared for Tesla's upcoming financial results.

Tesla and Meta were scheduled to release their quarterly earnings after the US market closed on Wednesday, marking the start of the earnings season for major technology companies. Their results were expected to provide further information about business performance as investors continued to assess the technology sector. Netflix shares moved sharply lower in premarket trading after the streaming company issued a fourth-quarter revenue forecast that fell short of analyst expectations. The company also lowered its advertising revenue guidance for 2026, according to Yahoo Finance.

Developments in the energy market added to the day's trading activity. Brent crude futures climbed to $110 per barrel, while West Texas Intermediate crude futures traded near $100 per barrel. The combination of corporate earnings, artificial intelligence-related growth, and movements in energy prices shaped the early US market session. Investors awaited the postmarket reports from Tesla and Meta as the technology industry's earnings season began.