Dow Jones closed 360 points higher, hovering near the 53,000 mark, after a three‑day run of gains. The S&P 500 added 0.5% and the Nasdaq lifted 1%, buoyed by a 7% jump in SpaceX shares after the company’s quarterly results outpaced Wall Street forecasts.
Meta’s fourth‑quarter revenue topped the consensus estimate of $73.7 billion, reaching $74.5 billion, while EPS eclipsed expectations at $3.10 versus the projected $3.00. The company’s guidance for the year‑end remains unchanged, and its stock, which had rallied over 5% in after‑hours trade, is now trading 2.1% higher.
Tesla’s core automotive revenue fell 3% YoY to $20.5 billion, and its energy division slipped 16% to $2.1 billion, citing lower price points and battery supply constraints. Despite the dip, the firm doubled its capex to $10 billion, yet trimmed full‑year capex guidance to $20 billion from $25 billion. Shares slipped 3.3% after the report.
IBM reported earnings that beat street forecasts, driven by a 5% rise in cloud services, but its gross margin narrowed to 48.2% from 49.0% last year. The company reaffirmed a constant‑currency revenue growth outlook of 4–5%, and its shares declined 4.5% in extended trading.
Looking ahead, investors are eyeing earnings from Procter & Gamble, Western Digital, Lockheed Martin and Blackstone, with Western Digital’s results seen as a barometer for the memory‑chip market. Oil prices held above $110 a barrel despite a Saudi Aramco facility strike, and bond yields and the U.S. dollar index remained steady, setting the backdrop for the next trading session.