21 October 2026 — Global markets opened Wednesday with cautious optimism after strong earnings from SpaceX and Super Micro Computer renewed investor interest in AI-related stocks. Gains showed up in US futures, European indices and parts of Asia following yesterday’s majority-positive close in the United States.
Key facts and figures
- US futures signaled modest gains ahead of the open: S&P 500 futures were around +0.3%, Nasdaq 100 futures +0.7%, and Dow futures +0.1%. At the open the Nasdaq traded about +0.6% and the S&P 500 about +0.2%.
- Super Micro Computer shares jumped more than 12% after preliminary quarterly revenue and gross margin notably beat expectations. The upbeat print also lifted peers such as Dell and Hewlett Packard Enterprise (HPE) and helped chipmakers.
- SpaceX traded roughly 8% higher pre-market after a stronger-than-expected quarter and news of potential merger discussions with Tesla. SpaceX’s recent turnaround was attributed to a surge in its AI business and Starlink growth, though the company plans very large capital spending — projecting $35–40 billion of investment for the next quarter.
Why optimism is fragile
Confidence remains fragile because many investors worry about the eventual payback from AI investments. High bond yields and a renewed rise in oil prices add to inflation concerns. Brent crude traded around $110 per barrel, while West Texas Intermediate (WTI) was quoted at $107.89 according to the day’s figures.
Other market developments
- Netflix shares fell more than 6% despite third-quarter profit beating estimates; the stock was punished after the company issued a more cautious outlook for Q4 and lowered its annual ad revenue target.
- Nvidia introduced the DSX Pod AI Factory, a container-sized turnkey AI system comprising seven Vera Rubin server racks, which could speed up deployment of AI data centers.
- OpenAI expanded ads in ChatGPT to 26 additional countries, bringing the total number of markets with advertising to 89.
Near-term catalysts
After today’s regular session, earnings from Meta and Tesla are due and could provide fresh direction for technology stocks. Investors will watch how those companies address the monetization and return-on-investment questions around AI.
Regional and domestic picture
European markets showed firmer gains at times — the German DAX +1.4%, Italy’s FTSE MIB +1.3%, Spain’s IBEX +1.1% and France’s CAC +1.0% in intraday moves — while Hungary’s BUX underperformed, trading down about 0.3% at one point. MOL’s shares outperformed locally following announcements related to the NIS transaction.
In short, AI-related headlines are driving market momentum for now, but uncertainty over investment returns, elevated interest-rate-sensitive asset prices and higher energy costs keep investor sentiment cautious.
(Data: Refinitiv, Portfolio — 21 October 2026.)
