Closing Bell: Tech Stocks Rally, META and TSLA Results Top Expectations

U.S. stocks were higher on Wednesday as upbeat earnings reports helped lift tech stocks.  

The S&P 500 (SPX) was up 0.58%, while the Nasdaq-100 (NDX) jumped 1.13%. The Dow Jones Industrial Average ($DJI) was up 0.69% on Wednesday, while the small-cap Russell 2000 (RUT) rose 0.27%. 

Chip stocks led markets higher and Magnificent 7 earnings unfolded. Earnings reports Thursday include American Airlines (AAL), Comcast (CMCSA), Lockheed Martin (LMT) and Procter & Gamble (PG) reporting premarket. In the afternoon, Western Digital (WDC) and Bloom Energy (BE) report results. 

Here are a few things to watch from Wednesday's trading action: 

Advanced Micro Devices (AMD) was up 3.5% and Nvidia (NVDA) gained over 2%. Memory chip stocks rallied including Micron (MU), Western Digital (WDC), and Seagate Technologies (STX). See Using Chip, LLM & Nuclear Energy Stocks in Next Wave of ETF Investing  

Among other tech headlines, Super Micro Computer (SMCI) surged after it raised its preliminary Q1 2027 revenue outlook to a range of $18.5 billion to $19.5 billion. For more on emerging market technology stocks, see Beyond the U.S.: Mark Headley Sees Opportunity in Emerging Markets 

Meta Platforms (META) beat Wall Street estimates and doubled down on AI endeavors. Tesla (TSLA) also reported results. See META Strong Opportunity in AI Faces Competition & Sentiment Headwinds 

Tesla (TSLA) stock was up more than 4% after the close Wednesday after it reported earnings and revenue that were better than analyst expectations. Shares of SpaceX (SPCX) surged more than 7% in regular trading after the company late Tuesday reported third-quarter revenue grew 161%. Answering an analyst question, CEO Elon Musk backed up the idea of merging SpaceX and Tesla, and he said that each company formed special committees to discuss a merger. See KG on SPCX & TSLA Trading Action, SMCI Prelim Revenue Surge and SPCX & TSLA Merger Buzz Excites Investors, Crude Oil Cools Amid Iran Uncertainty 

Netflix (NFLX) shares tumbled about 5% after the streaming company’s full-year revenue forecast came in below analysts’ expectations. It projected weaker-than-expected fourth-quarter revenue and cut ad revenue guidance. See Netflix (NFLX) Near a Trough as Ad Opportunity Builds 

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