U.S. stock futures climbed early Wednesday on October 21, 2026, led by Nasdaq futures following a 161% year-on-year revenue surge at SpaceX. The Elon Musk-led company also revealed it formed special committees to explore a potential blockbuster merger with Tesla, as major corporate earnings continued to drive market sentiment.
SpaceX Revenue Surge and Tesla Merger Discussions Lift Stock Futures
Stock index futures pointed higher on Wednesday morning, with Nasdaq contracts leading the advance after SpaceX shares jumped more than 9% in extended trading. The aerospace company reported third-quarter revenue reaching $14.58 billion, easily beating Wall Street expectations as demand for artificial-intelligence computing capacity expanded rapidly.
Net income for the quarter hit $4.4 billion, rebounding sharply from a loss of $1.1 billion during the same period a year earlier. Alongside the financial results, Musk announced that SpaceX and Tesla have formed special committees to discuss a potential merger that would combine two of his largest enterprises, which carry a combined market value of $3.5 trillion.
Broader Earnings Divergence Across Major Tech and Industrial Stocks
While SpaceX posted strong numbers, other prominent names struggled. Streaming giant Netflix shares tumbled more than 6% in premarket trading after reporting its slowest sales growth in three years. In regular trading during the preceding session, the Dow Industrials had advanced nearly 530 points, or 1%, supported by a post-earnings jump in 3M after the industrial products company raised its full-year profit guidance.
Market participants are closely monitoring upcoming earnings reports from Meta Platforms and Tesla, which are scheduled to release results after the closing bell.
| Market Index / Future | Movement | Value / Change |
|---|---|---|
| Nasdaq 100 Futures | Climbed | 0.6% to 29,839.75 points |
| S&P 500 Futures | Inched higher | 0.2% to 7,772.75 points |
| Dow Jones Futures | Edged up | 0.1% to 52,749.0 points |
| WTI Crude Futures | Gained | 1.25% to $99.04 a barrel |
