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Wall Street rises as AI demand surges after SpaceX report

dn.se (Swedish) — October 21, 2026 at 09:01 PM UTC

Wall Street closed higher on Wednesday, driven by renewed enthusiasm for AI stocks following a surprisingly strong report from SpaceX. The tech-heavy Nasdaq composite rose 1.1 percent, while the S&P 500 gained 0.6 percent and the Dow Jones Industrial Average climbed 0.7 percent. Elon Musk's AI and space company SpaceX reported a ninefold increase in revenue for its AI segment compared to last year, released after Tuesday's close. The stock finished Wednesday's trading up 7.8 percent, fueling renewed demand for AI exposure. Tesla, reporting after the close, ended the day up 3.4 percent, while Meta, also set to report, closed 0.5 percent higher. Meanwhile, oil prices rose further on Middle East escalation concerns, with North Sea crude at $109.5 per barrel.

With a significance score of 2.2, this news ranks in the top 23% of today's 32437 analyzed articles.

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