Stock futures rise as SpaceX surges on strong earnings; Dow jumps 500 points
U.S. stock futures rose Tuesday night as traders weighed the latest earnings reports, with Dow futures up 21 points, S&P 500 futures gaining 0.3%, and Nasdaq-100 futures adding 0.8%. SpaceX shares surged 8% after reporting 161% revenue growth in the third quarter. The Dow Industrials jumped nearly 530 points, or 1%, in regular trading, buoyed by a post-earnings jump in 3M after the company raised its full-year profit guidance. SpaceX and Tesla have formed special committees to discuss a merger, according to Elon Musk. Oil prices slipped, with WTI crude falling 1.8%. Goldman Sachs Research expects earnings support to help equities into year-end despite volatility from AI concerns, Middle East tensions, and midterm elections. Investors await Wednesday results from Meta Platforms, Tesla, IBM, and Southwest Airlines, with attention on the sustainability of AI-related spending.