Update: US Equity Indexes Rise Ahead of Quarterly Earnings From Meta Platforms, Tesla Following Blockbuster SpaceX Results

03:39 PM EDT, 10/21/2026 (MT Newswires) -- (Updates with index/price moves and company news from the first paragraph.) US equity indexes rose as a rally in SpaceX (SPCX) and Super Micro Computer's (SMCI) shares boosted risk sentiment in growth sectors ahead of quarterly results from Meta Platforms (META) and Tesla (TSLA) post-bell Wednesday. The Nasdaq Composite advanced 1.1% to 26,701.7, the S&P 500 climbed 0.6% to 7,754.6, and the Dow Jones Industrial Average edged up 0.5% to 52,765.7 ahead of the close. Six of the top 10 stocks in a category with market capitalization exceeding $200 billion were from the technology sector, according to data compiled by Finviz. SpaceX topped this list of mega-caps, gaining 7.1%. The iShares PHLX Semiconductor Exchange Traded Fund, with about $48.43 billion in assets under management, jumped 1.9% as investors continued to dip their toes back in the AI trade after last week's sharp sell-off. SpaceX, which also led Nasdaq's gainers, said late Tuesday it swung into the black in Q3 as revenue rose, driven by strong gains in its artificial intelligence and connectivity divisions. Meanwhile, Elon Musk, who heads both SpaceX and Tesla, said the duo has formed special committees to evaluate a potential merger. A deal could allow SpaceX and Tesla to share technology, reduce overlapping costs and accelerate development, Saxo Bank said in a note Wednesday. The brokerage estimated the companies' combined market value at around $3.5 trillion. Super Micro Computer's shares surged 9.5% after the company reported preliminary fiscal Q1 revenue and margin results above expectations late Tuesday.