4. Financial markets
Wednesday, Oct 21:
| Level | Change | |
|---|---|---|
| S&P 500 (close) | 7,757.17 | +0.58% |
| Nasdaq (close) | 26,702.86 | +1.05% |
| Dow (close) | 52,856.09 | +0.69% |
| 10-yr Treasury (as of 4:10 PM, not a settlement close) | 5.123% | up less than 1 bp |
| WTI / Brent futures (close) | $97.15 / $108.82 | — |
Sources: index closes from CNBC's Oct 21 live markets page; the yield and oil from CNBC's 4:10 PM update. We don't show an oil change because Tuesday's figure isn't on a confirmed like-for-like contract.
What drove the day:
SpaceX rose 7% after reporting 161% revenue growth and saying it and Tesla have formed special committees to discuss a merger. Chip stocks followed, with AMD up more than 3% and Nvidia up more than 2%. Netflix fell more than 5% on its forecast (CNBC).
Meta after hours:
shares edged higher in extended trading. Diluted EPS was $3.83, which includes a $9.89B charge for the settlement with state attorneys general; without it, EPS would have been $7.40. Meta guided Q4 revenue to $73-76B (Meta; Investing.com).
Tesla after hours:
shares reversed an early gain to trade down about 2%. Revenue was roughly flat at $28.05B, adjusted EPS was $0.48, and free cash flow was $1.53B, against an expected $4.92B cash burn. Tesla is aiming for 5M vehicles a year by about 2030. Reuters reports some insiders are uneasy about the regulatory scrutiny a SpaceX merger could bring (Tesla Q3 update, SEC; Reuters via Investing.com; Investing.com).
Overnight:
Brent was up 3.1% at $112.20 and WTI up 2.8% at $99.86 as of 4:12 AM, on the Hormuz reports and Houthi attacks in Saudi Arabia (CNBC; Reuters via Euronext).
Today:
weekly jobless claims are due, with about 200K expected. The Fed decides on rates Oct 28 (CNBC).