SpaceX crushes views on AI compute sales, mulls Tesla merger.

Goldman Sachs and Caterpillar hold the Dow’s whole gap to its 54,349 record, and I test what a hiking Fed has meant for the odds of a new high.

US stock futures traded mostly higher on Wednesday as investors assessed corporate earnings, developments in artificial intelligence investment and geopolitical uncertainty surrounding the conflict in the Middle East. Attention also turned to comments from Elon Musk about a potential merger between SpaceX and Tesla, reports concerning Anthropic’s financial performance and Meta Platforms’ forthcoming quarterly results.

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This earnings season could help propel stocks as the year winds down, said Christian Mueller-Glissmann, head of asset allocation for Goldman Sachs Research.

Dow Jones surged over 500 points as strong corporate earnings and easing Treasury yields lifted sentiment, even as tech stocks lagged and global markets traded higher.

Disappointing housing market reports did not put pressure on major indices today.

The Dow Jones could reach fresh highs near 57,000 if October 6 support holds; a break below that level risks a deeper decline into the 40,000s.

US stocks rose sharply compared to the beginning of the week thanks to earnings reports. Domestically, Vietjet is applying to establish a domestic airline in Australia, and VNG is setting up a cloud computing company.

SpaceX reported solid earnings fueled by a big jump in its artificial-intelligence business.

The Dow Jones ended over 500 points higher in regular trading on Tuesday, boosted by shares of 3M Company, which gained on strong results and an increased profit outlook. The stock, which has a 2% weightage on the Dow, ended with gains of nearly 5%. While the S&P 500 and Nasdaq gave up initial gains to end 0.3% higher and just at the flat line respectively, their futures are witnessing a surge.