U.S. stock futures rise as SpaceX surges on upbeat earnings

U.S. stock futures climbed to higher levels on Tuesday evening, with Nasdaq futures leading the charge. SpaceX, the Elon Musk-led company, saw its shares surge more than 8% in extended trading following the release of stronger-than-expected third-quarter earnings. The company's revenue jumped 161% year-on-year to $14.58 billion, surpassing analysts' expectations, while net income reached $4.4 billion, compared to a loss of $1.1 billion a year earlier.

This marked a significant shift as artificial intelligence-related computing demand grew, although SpaceX still required substantial investment. The gains in SpaceX's stock were juxtaposed with some declines in other areas. Netflix shares dropped 6% after reporting slower-than-expected revenue growth, while Super Micro Computer rose 16% after delivering revenue and gross margin figures that exceeded initial guidance.

The mixed performance on Wall Street, with the Dow Jones Industrial Average up 1% and the S&P 500 up 0.3%, was offset by a slight dip in the Nasdaq Composite. As attention shifted back to broader equities, investors looked ahead to the earnings reports from Tesla and Meta Platforms later in the week.