Nasdaq leads Wall Street higher following SpaceX profit and AI rally

United States stocks finished higher on Wednesday, October 21, 2026, as technology shares pushed the market upward. STL.News, Investing.com News, and Reuters all reported that the Nasdaq led Wall Street gains, driven by renewed confidence in artificial intelligence investments and solid earnings reports. STL.News noted that broader advances were partially limited by declines in telecommunications and streaming companies. [1][4][10]

SpaceX helped lift technology sentiment across Wall Street. According to STL.News, SpaceX reported a quarterly profit of $4.4 billion, while market attention also focused on a possible merger between SpaceX and Tesla. The Sunday Guardian, Investing.com News, and Reuters all reported that SpaceX and Super Micro Computer helped boost market sentiment, with Super Micro Computer surging on a strong artificial intelligence outlook. STL.News added that semiconductor stocks helped raise the technology sector overall. [1][3][4][5][8][10]

Not all sectors shared in the market gains. STL.News and The Sunday Guardian reported that Netflix shares and telecommunications stocks declined during the session. Additionally, Seeking Alpha Markets reported that Graco shares dropped sharply after its quarterly earnings and revenue missed Wall Street expectations. [1][5][6]

The gains follow previous volatility in technology shares. As FTMQ Business reported earlier, United States stock markets had previously dropped on October 16, 2026, led by declines in artificial intelligence technology companies. [13]