Good morning. Stocks rose Wednesday, with Tech (XLK) leading the way, as better-than-expected results from SpaceX (SPCX) sparked renewed optimism about the AI business.
Shares of electric vehicle maker Tesla (TSLA) jumped after CEO Elon Musk, who also runs SpaceX, hinted at a potential merger between the two companies.
Tesla will report earnings after the closing bell on Wednesday, as will social media giant Meta (META).
Here’s a check of the markets during the first few minutes of trading, based on a heat map powered by Yahoo Finance AlphaSpace data.
AI semiconductor giants Nvidia (NVDA) and AMD (AMD) rose, as did memory makers Micron (MU) and SK Hynix (SKHY).
Supermicro (SMCI) stock jumped 13% after the server maker raised its first-quarter revenue forecast ahead of its quarterly results next month.
Energy stocks (XLE) fell as Brent crude futures (BZ=F) fell to $108 a barrel. West Texas Intermediate (CL=F) futures were hovering around $97 per barrel.
Here are some other notable stocks Yahoo Finance readers are checking out this morning: Dell (DELL), AT&T (T) and Abbott Laboratories (ABT).
Ines Ferre is a senior business reporter for Yahoo Finance, covering the U.S. stock market, publicly traded companies and commodities.
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