U.S. stocks rise as AI shares rebound after SpaceX profit

U.S. stocks closed higher Wednesday as AI shares rebounded following SpaceX's quarterly results, with the Nasdaq leading gains. The Dow rose 0.69 percent, the S&P 500 gained 0.58 percent, and the Nasdaq increased 1.05 percent. Technology and industrials led S&P 500 sector gains, rising 1.61 percent and 0.91 percent, while communication services and real estate lagged. SpaceX soared nearly 7.8 percent after reporting its first profitable quarter, with revenue surging 161 percent, and Tesla rose 3.4 percent ahead of its results. Treasury yields edged higher near 19-year highs as oil price rebounds revived inflation concerns, with the 10-year yield approaching 5.15 percent. Traders saw an 85-percent chance the Federal Reserve holds rates steady at its Oct. 27-28 meeting, keeping focus on corporate earnings.