SpaceX shares rise 8.86% after third-quarter report — Fortune

In the United States, Nasdaq futures rose 0.43% before trading opened in New York after SpaceX published third-quarter results that exceeded analysts' expectations. SpaceX shares gained 8.86% in after-hours trading, while Tesla shares rose 1.42%, Fortune reports.

Movement on stock exchanges

Futures on the S&P 500 index rose 0.24%. The index itself had gained 0.28% the previous day.

In European trading, the Stoxx 600 index added 0.54%, while the UK’s FTSE 100 rose 0.03%. In Asia, South Korea’s KOSPI climbed 3.29%, and Japan’s Nikkei 225 rose 0.85%. At the same time, India’s Nifty 50 fell 0.66%, while China’s CSI 300 declined 0.97%.

The price of Brent crude stood at $110 per barrel, while bitcoin was trading at $83,346.

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Wells Fargo signal

Following the recent stock sell-off, Wells Fargo’s sentiment indicator moved into buy territory. According to the bank’s interpretation, this indicates excessively pessimistic sentiment among other investors and provides grounds for betting against that sentiment.

According to strategist Ohsung Kwon and his colleagues, after such a signal emerged, the S&P 500 index rose in 89% of cases, with average growth over the following three months amounting to 6.5%. They also noted the return of retail investors to the market.

According to Glenmede’s estimate, the expected volume of quarterly earnings for companies included in the S&P 500 index will total $180 billion. Of this amount, $116 billion is expected to come from Magnificent Seven companies and other technology firms.