Market Update: Stock Futures and Earnings Reports

On October 19, 2026, a trader can be seen working at the New York Stock Exchange.

U.S. stock futures showed positive movement early Wednesday as traders analyzed the latest earnings announcements. S&P 500 futures rose by 0.29%, while Nasdaq-100 futures increased by 0.7%. Meanwhile, Dow futures remained unchanged.

Across Asia, South Korea’s Kospi saw a significant rebound, climbing 2.7% after losses the day before. Japan’s Nikkei 225 added 0.8%, but the Hang Seng index fell by 0.35%, and the mainland China market remained mostly steady. In Australia, the S&P/ASX 200 showed little variation.

Shares of Elon Musk’s SpaceX surged 8% following reports of a 161% revenue increase in the third quarter. Musk also mentioned that SpaceX and Tesla, his car company, have initiated special committees to discuss a merger. Tesla’s stock experienced a 1% gain.

During regular trading, the Dow Industrials jumped nearly 530 points, translating to a 1% increase, largely attributed to a strong post-earnings reaction from 3M, whose shares rose over 5% after raising its profit guidance for the year. The S&P 500 posted a modest increase of 0.3%, whereas the Nasdaq Composite ended the day slightly lower.

Oil prices dipped a bit by the end of the session. West Texas Intermediate crude futures fell by 1.8%, while Brent crude futures decreased by 0.7%.

Analysts see this earnings season as a potential boost for stocks as the year approaches its close. Christian Mueller-Glissmann, head of asset allocation for Goldman Sachs Research, noted, “In the near term, there might be more volatility due to AI concerns, tensions in the Middle East, and midterm elections, but we believe that earnings support, combined with lighter positioning and lower valuations, should help lift equities into year-end.”

Concerns regarding the sustainability of AI investments have influenced market sentiment, with investors considering whether the current spending justifies the demand for infrastructure linked to AI. Seagate Technology, focusing on data storage, advanced by 2% in Tuesday’s trading, while the neo-cloud company CoreWeave saw gains exceeding 1%.

Looking ahead to Wednesday, investors are eager for further insights into the AI sector, particularly with Meta Platforms set to report earnings after the closing bell. Earlier this month, Meta unveiled its new AI model, Muse Wonder, which is exclusive to paying customers.

Traders are also anticipating results from Tesla, IBM, and Southwest Airlines, all scheduled to report on the same day.