Today’s Market Recap: All Three Major U.S. Indexes Close Higher,SpaceX Up About 7.8% After Earnings, Supermicro Earnings Lift AI Stocks

Tracking the Market Trend

TradingKey - On Wednesday, October 21 (Eastern Time), the three major U.S. stock indices all closed higher. SpaceX (SPCX) beat expectations with its third-quarter earnings, and news of its discussions with Tesla(TSLA) regarding a potential merger took center stage; Supermicro’s upward revision of its quarterly earnings forecast also boosted the performance of AI-related stocks.

At the close, the Dow Jones Industrial Average rose 0.69% to 52,856.09; the Nasdaq Composite gained 1.05% to 26,702.86; and the S&P 500 increased 0.58% to 7,757.17.

Among individual stocks, SpaceX closed up about 7.8%; Supermicro (SMCI) closed up about 9.6%, as the company raised its quarterly earnings guidance, reflecting continued resilience in demand for AI servers. Netflix (NFLX) closed down about 5.3%, primarily weighed down by a fourth-quarter profit outlook that fell short of expectations. In after-hours trading, Meta (META) rose 2.12% following its earnings report, while Tesla fell 3.32% after its earnings release.

In the commodities market, international oil prices were mixed. Brent crude futures rose 0.03% to close at $108.82 per barrel, while WTI crude futures fell 0.69% to close at $97.15 per barrel. Gold futures rose 0.2% to close at $4,150 per ounce, while spot silver fell about 0.4% to $57.73 per ounce.

Market Headline

NVIDIA (NVDA) unveiled several AI technologies at the GTC Berlin conference, with telecommunications networks expected to expand the application of distributed computing power. At the GTC Berlin conference, NVIDIA announced several advancements in AI infrastructure and applications, driving the expansion of AI technology into more industries. The company introduced the DSX POD modular AI factory reference design and the OpenShell agent security architecture, and showcased its strategic initiatives in fields such as robotics and autonomous driving. NVIDIA is also collaborating with companies such as Nokia to advance the integration of AI and telecommunications networks, exploring ways to extend accelerated computing capabilities to communication network nodes. Jensen Huang stated that NVIDIA’s investments in Europe over the past year have approached $10 billion and called on various industries to actively adopt AI technology. These initiatives are expected to expand NVIDIA’s business opportunities in enterprise AI, edge computing, and robotics.

Berkshire Hathaway’s stock price hit an all-time high, drawing attention to capital allocation under new CEO Greg Abel. On October 21, Berkshire Hathaway (BRK.B) shares rose as high as $543.06 during intraday trading, surpassing the previous record set in May 2025. After Warren Buffett stepped down as CEO, the market had expressed concerns about how the leadership transition might affect the company’s operations and investment decisions. Since taking office, his successor, Greg Abel, has gradually advanced capital allocation, resuming stock buybacks, expanding the residential business, and investing in companies such as Alphabet. While the record-high stock price indicates growing investor confidence in the company’s business outlook, it does not necessarily mean the market has completely dispelled its concerns regarding the leadership transition.

SK Hynix has completed its stock buyback of approximately 40 trillion won ahead of schedule, and all repurchased shares will be canceled. SK Hynix completed its stock buyback plan of approximately 40.04 trillion won about a month ahead of schedule. According to the company’s previously announced plan, the buyback involved approximately 24.07 million shares, equivalent to about 3.3% of the outstanding shares, and all repurchased shares will be canceled. The scale of this buyback set a record among South Korean listed companies. The cancellation of shares helps reduce the number of shares outstanding and improve per-share metrics, but subsequent stock price performance will still depend on the supply and demand for memory chips, earnings growth, and the company’s further announcements regarding shareholder return policies.

Meta was ordered to pay a $25 billion civil fine over privacy issues and plans to appeal. Meta was ordered by a New Mexico court to pay a $25 billion civil fine after being found to have misled consumers regarding Facebook user privacy and content moderation. Previously, a jury found the company guilty of more than 43 million violations of the state’s consumer protection law. Meta has indicated it plans to appeal, so this amount should be viewed as the court’s current ruling rather than a final, confirmed expense. If the ruling is ultimately upheld, the company could face substantial legal costs and further regulatory pressure.

Meta’s third-quarter revenue grew by 26%, with continued increases in AI investment but profit under pressure. Meta’s third-quarter revenue rose 26% year-over-year to $64.601 billion, exceeding market expectations, with the advertising business remaining the primary growth driver. However, impacted by approximately $9.89 billion in social media litigation settlement costs, the company’s operating profit fell 37% year-over-year to $12.988 billion, while net income rose 264% year-over-year to $9.860 billion, primarily due to higher income tax expenses in the same period last year. The company expects capital expenditures for 2026 to range from $135.0 billion to $145.0 billion, continuing to ramp up investment in AI infrastructure. Investors will need to monitor the actual contribution of AI investments to advertising revenue, profit margins, and cash flow going forward.

Tesla’s third-quarter revenue slightly exceeded expectations, while profits declined and the company revised its full-year capital expenditure plan downward. Tesla reported third-quarter revenue of approximately $28.05 billion and adjusted earnings per share of $0.48, slightly above market expectations; however, net income fell by about 44% year-over-year, and operating profit declined by approximately 56% year-over-year. The company’s free cash flow for the quarter was approximately $1.53 billion, remaining positive, and the gross margin for its automotive business rose to 18.1%. Meanwhile, Tesla reduced its 2026 capital expenditure plan from over $25 billion to approximately $20 billion, reflecting an adjustment in the company’s investment pace in the areas of AI, autonomous driving, and robotics. The progress of the Cybercab and Optimus projects disclosed by the company remains a key long-term focus, but uncertainty persists regarding their commercialization timelines and return on investment.

Top 10 Most Traded Stocks

The table below lists the ten most actively traded stocks in the latest market. Supported by massive trading volumes and exceptional liquidity, these assets have become key benchmarks for tracking global market dynamics.