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Good morning. Stocks rose on Wednesday, with Tech (XLK) leading as SpaceX’s (SPCX) better-than-expected results sparked renewed optimism over the AI trade.
EV maker Tesla (TSLA) stock popped after CEO Elon Musk, who also leads 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 in 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, along with memory makers Micron (MU) and SK Hynix (SKHY)
Supermicro (SMCI) stock surged 13% after the server maker lifted its fiscal first quarter revenue forecast ahead of its quarterly results next month.
Energy stocks (XLE) retreated as Brent crude futures (BZ=F) fell to $108 per barrel. West Texas Intermediate futures (CL=F) hovered near $97 per barrel.
Here are some other notable stocks that Yahoo Finance readers are viewing this morning: Dell (DELL), AT&T (T), and Abbott Laboratories (ABT).
Ines Ferre is a Senior Business Reporter for Yahoo Finance covering the US stock market, publicly traded companies, and commodities.
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