Tech Stocks Lift Market as Supermicro Jumps 13% on Raised Revenue Forecast
Updated
Updated · Yahoo Finance · Oct 21
Tech Stocks Lift Market as Supermicro Jumps 13% on Raised Revenue Forecast
3 articles · Updated · Yahoo Finance · Oct 21
Summary
U.S. stocks opened higher Wednesday, with the Technology Select Sector SPDR Fund leading gains as stronger-than-expected SpaceX results revived enthusiasm for AI-linked shares.
Nvidia, AMD, Micron and SK Hynix all advanced early, extending the AI-driven move that also sent server maker Supermicro up 13% after it raised its fiscal first-quarter revenue forecast.
Tesla also climbed after Elon Musk hinted at a possible merger with SpaceX, adding another catalyst ahead of Tesla's earnings due after the closing bell alongside Meta's results.
Energy shares lagged the broader market as Brent crude fell to $108 a barrel and WTI hovered near $97, tempering support from the oil patch.