{"id":7278,"date":"2026-10-21T21:00:00","date_gmt":"2026-10-21T21:00:00","guid":{"rendered":"https:\/\/lqhmarkets.com\/news-and-trade-ideas\/us-tech-rally-ai-optimism-apac-open-21-oct-26\/"},"modified":"2026-10-23T23:32:29","modified_gmt":"2026-10-23T23:32:29","slug":"us-tech-rally-ai-optimism-apac-open-21-oct-26","status":"publish","type":"post","link":"https:\/\/lqhmarkets.com\/news-and-trade-ideas\/us-tech-rally-ai-optimism-apac-open-21-oct-26\/","title":{"rendered":"US Tech Rally Fuels Wall Street Gains, AI Optimism Ahead of APAC Open"},"content":{"rendered":"
Written by Julian Sonego<\/a> | Reviewed by LQH Markets Editorial Team<\/a><\/div>\n

Market Overview<\/h2>\n

US technology stocks spearheaded a robust rally on Wall Street, buoyed by strong quarterly results from SpaceX and Super Micro Computer, which rekindled investor enthusiasm for the artificial intelligence (AI) trade. Comments from Elon Musk regarding a potential merger between SpaceX and Tesla further bolstered sentiment. This positive momentum provides a key backdrop for Asian markets, with Australian shares poised to open steady. Meanwhile, concerns over French debt led its 10-year bond yield to a 20-year high, and ongoing geopolitical tensions, particularly in the Middle East, continued to exert upward pressure on oil prices.<\/p>\n

Markets<\/h2>\n

On Wall Street, the tech-heavy Nasdaq Composite<\/strong> surged 1.05% to 26,702.86. The S&P 500<\/strong> rose 0.58% to 7,757.17, extending a three-day winning streak, while the Dow Jones Industrial Average<\/strong> climbed 0.69% to 52,856.09.<\/p>\n

In its last completed session, the S&P\/ASX 200<\/strong> closed at 8,831.30, up 0.16%. Australian shares are poised to open steady.<\/p>\n

Commodity markets saw Brent Crude<\/strong> finish 0.64% higher at $109.49, and Gold<\/strong> closed up 0.20% at $4,150.80.<\/p>\n

In currency markets, the Australian Dollar<\/strong> strengthened 0.71% against the US dollar to US$0.7032, while the US Dollar Index<\/strong> edged down 0.03% to 101.70.<\/p>\n

The US 10-Year Treasury yield<\/strong> moved higher by 2.90 basis points to 5.146%.<\/p>\n

Cryptocurrencies also advanced, with Bitcoin<\/strong> gaining 2.04% to $84,633.<\/p>\n

What Drove Markets<\/h2>\n

The primary catalyst for the market’s upward movement was the re-ignition of the AI trade, sparked by impressive quarterly reports. SpaceX reported quarterly revenue of $14.6 billion, a surge of over 160% from a year ago, with a profit of $4.4 billion. Its artificial intelligence business specifically grew ninefold in the third quarter. Super Micro Computer’s strong quarterly outlook and forecast also contributed significantly to the tech rally and improved appetite for AI-linked stocks. These results, coupled with Elon Musk\u2019s comments that special committees were exploring a potential merger between SpaceX and Tesla, while cautioning there was “no guarantee” a deal would be reached despite seeing “a lot of merit” in a tie-up, reversed recent market sentiment that had been weighed by concerns over the AI trade’s sustainability. After the US close, Meta Platforms’ earnings beat estimates with a 26% revenue jump, providing a critical gauge of the sector’s continued strength.<\/p>\n

Joe Zidle, Cresset’s chief market strategist, noted that while “SpaceX suggests there is still a longer runway here,” the “fundamental tension or experience of getting overly enthusiastic and overly capitalizing things I don\u2019t think has changed.” Jake Dollarhide, CEO of Longbow Asset Management, suggested that “falling interest rates and eventual lower energy prices could prove to be a nice relief for the tech and AI trade to finish out the year despite recent choppiness.”<\/p>\n

Geopolitical undercurrents continue to shape energy markets. Ongoing tensions in the Middle East, including the conflict involving Iran-backed Houthis and the Saudi Arabia-backed government in Yemen, maintained upward pressure on oil prices. Unconfirmed reports of a Qatar and Pakistan proposal to revive talks to conclude the Iran war briefly sent oil prices down. High-level diplomatic meetings between global powers, including President Donald Trump’s stated openness to a three-way meeting with China and Russia on nuclear weapons, are being closely watched for their impact on international stability. Iranian President Masoud Pezeshkian emphasized that for any negotiation, the U.S. must first “lift the pressures, threats, and sanctions.”<\/p>\n

Concerns over European debt re-emerged as France\u2019s 10-year bond yield hit 5% for the first time since 2002, amid worries about political instability and the country\u2019s economic outlook.<\/p>\n

Stocks to Watch<\/h2>\n

Leading the tech rally, SpaceX<\/strong> surged 7.79%, benefiting from its strong quarterly results and merger speculation with Tesla<\/strong>, which itself rose 3.41%. Other key chipmakers in the AI sector also saw gains, including Nvidia<\/strong> (up 2.54%), Advanced Micro Devices<\/strong> (up 3.36%), Micron Technology<\/strong> (up 1.96%), and Marvell Technology<\/strong> (up 1.81%). The VanEck Semiconductor ETF<\/strong> (SMH) advanced 1.89%, reflecting the broader strength in the sector.<\/p>\n

In contrast, Netflix<\/strong> was a key laggard, tumbling 5.31% after issuing disappointing Q4 revenue guidance of $13.4 billion, which missed consensus figures. The company also cut its ad revenue guidance for the full year, contributing to a year-to-date loss of 28.52%, significantly underperforming the S&P 500.<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Instrument<\/th>\nCode<\/th>\nClose<\/th>\nMove<\/th>\nWoW<\/th>\nYTD<\/th>\n<\/tr>\n<\/thead>\n
SpaceX<\/td>\nSPCX<\/td>\n159.31<\/td>\n7.79%<\/td>\n-2.51%<\/td>\n-1.02%<\/td>\n<\/tr>\n
Tesla<\/td>\nTSLA<\/td>\n386.47<\/td>\n3.41%<\/td>\n2.23%<\/td>\n-11.78%<\/td>\n<\/tr>\n
Nasdaq<\/td>\n^IXIC<\/td>\n26,702.86<\/td>\n1.05%<\/td>\n0.04%<\/td>\n14.92%<\/td>\n<\/tr>\n
S&P 500<\/td>\n^GSPC<\/td>\n7,757.17<\/td>\n0.58%<\/td>\n0.50%<\/td>\n13.10%<\/td>\n<\/tr>\n
Dow Jones<\/td>\n^DJI<\/td>\n52,856.09<\/td>\n0.69%<\/td>\n2.39%<\/td>\n9.25%<\/td>\n<\/tr>\n
ASX 200<\/td>\n^AXJO<\/td>\n8,831.30<\/td>\n0.16%<\/td>\n1.18%<\/td>\n1.19%<\/td>\n<\/tr>\n
Brent Crude<\/td>\nBZ=F<\/td>\n109.49<\/td>\n0.64%<\/td>\n3.23%<\/td>\n80.23%<\/td>\n<\/tr>\n
Gold<\/td>\nGC=F<\/td>\n4,150.80<\/td>\n0.20%<\/td>\n1.04%<\/td>\n-4.13%<\/td>\n<\/tr>\n
Australian Dollar<\/td>\nAUDUSD=X<\/td>\n0.7032<\/td>\n0.71%<\/td>\n0.67%<\/td>\n5.30%<\/td>\n<\/tr>\n
US Dollar Index<\/td>\nDX-Y.NYB<\/td>\n101.70<\/td>\n-0.03%<\/td>\n-0.83%<\/td>\n3.33%<\/td>\n<\/tr>\n
10-Year Treasury<\/td>\n^TNX<\/td>\n5.146<\/td>\n2.90 bp<\/td>\n-4.40 bp<\/td>\n95.90 bp<\/td>\n<\/tr>\n
Bitcoin<\/td>\nBTC-USD<\/td>\n84,633<\/td>\n2.04%<\/td>\n3.77%<\/td>\n-4.62%<\/td>\n<\/tr>\n
Meta<\/td>\nMETA<\/td>\n697.52<\/td>\n0.47%<\/td>\n-6.12%<\/td>\n7.24%<\/td>\n<\/tr>\n
NVIDIA<\/td>\nNVDA<\/td>\n221.97<\/td>\n2.54%<\/td>\n-1.92%<\/td>\n17.54%<\/td>\n<\/tr>\n
AMD<\/td>\nAMD<\/td>\n552.72<\/td>\n3.36%<\/td>\n-6.99%<\/td>\n147.34%<\/td>\n<\/tr>\n
Micron<\/td>\nMU<\/td>\n913.67<\/td>\n1.96%<\/td>\n-7.62%<\/td>\n189.67%<\/td>\n<\/tr>\n
Marvell<\/td>\nMRVL<\/td>\n244.76<\/td>\n1.81%<\/td>\n-7.94%<\/td>\n173.81%<\/td>\n<\/tr>\n
VanEck Semiconductor ETF<\/td>\nSMH<\/td>\n556.70<\/td>\n1.89%<\/td>\n-5.80%<\/td>\n49.13%<\/td>\n<\/tr>\n
Netflix<\/td>\nNFLX<\/td>\n65.04<\/td>\n-5.31%<\/td>\n-7.89%<\/td>\n-28.52%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

What to Watch Next<\/h2>\n

Economic Releases<\/h3>\n
    \n
  • 2026-10-22 19:30 ET JP \u2014 Core Inflation Rate YoY (Sep)<\/li>\n
  • 2026-10-23 04:00 ET TW \u2014 Industrial Production YoY (Sep)<\/li>\n
  • 2026-10-27 09:00 ET US \u2014 House Price Index (Aug)<\/li>\n
  • 2026-10-27 16:30 ET US \u2014 API Crude Oil Stock Change (Oct\/23)<\/li>\n
  • 2026-10-28 07:00 ET US \u2014 MBA Mortgage Applications (Oct\/23)<\/li>\n
  • 2026-10-28 10:30 ET US \u2014 EIA Crude Oil Stocks Change (Oct\/23)<\/li>\n
  • 2026-10-28 14:00 ET US \u2014 Fed Interest Rate Decision<\/li>\n
  • 2026-10-29 07:00 ET GB \u2014 BoE Interest Rate Decision<\/li>\n
  • 2026-10-29 08:30 ET US \u2014 Core PCE Price Index MoM (Sep)<\/li>\n
  • 2026-10-29 19:30 ET JP \u2014 Tokyo Core CPI YoY (Oct)<\/li>\n
  • 2026-10-29 19:50 ET JP \u2014 Industrial Production (Sep)<\/li>\n
  • 2026-10-29 19:50 ET JP \u2014 Industrial Production MoM (Nov)<\/li>\n
  • 2026-10-29 23:00 ET JP \u2014 BoJ Interest Rate Decision<\/li>\n
  • 2026-10-30 01:00 ET JP \u2014 Housing Starts YoY (Sep)<\/li>\n<\/ul>\n

    Corporate Earnings<\/h3>\n
      \n
    • 2026-10-22 US \u2014 Comcast Corp (CMCSA) (Before market open)<\/li>\n
    • 2026-10-22 US \u2014 Honeywell Technologies Inc (HON) (Before market open)<\/li>\n
    • 2026-10-22 US \u2014 Roper Technologies, Inc. (ROP) (Before market open)<\/li>\n
    • 2026-10-22 US \u2014 The Procter & Gamble Company (PG) (Before market open)<\/li>\n
    • 2026-10-22 US \u2014 Western Digital Corp (WDC) (After market close)<\/li>\n
    • 2026-10-23 US \u2014 American Express Company (AXP) (Before market open)<\/li>\n
    • 2026-10-26 US \u2014 Cadence Design Systems, Inc. (CDNS) (After market close)<\/li>\n
    • 2026-10-27 US \u2014 Baker Hughes Company (BKR) (After market close)<\/li>\n
    • 2026-10-27 US \u2014 Boeing Co (BA) (Before market open)<\/li>\n
    • 2026-10-27 US \u2014 Coca-Cola Co (KO) (Before market open)<\/li>\n
    • 2026-10-27 US \u2014 Ferrovial (FER) (Time not confirmed)<\/li>\n
    • 2026-10-27 US \u2014 NXP Semiconductors NV (NXPI) (After market close)<\/li>\n
    • 2026-10-27 US \u2014 Paccar Inc (PCAR) (Before market open)<\/li>\n
    • 2026-10-27 US \u2014 PayPal Holdings, Inc. (PYPL) (Before market open)<\/li>\n
    • 2026-10-27 US \u2014 Seagate Technology Holdings PLC (STX) (After market close)<\/li>\n
    • 2026-10-27 US \u2014 Sherwin-Williams Co (SHW) (Before market open)<\/li>\n
    • 2026-10-27 US \u2014 Teradyne, Inc. (TER) (After market close)<\/li>\n
    • 2026-10-27 US \u2014 Visa Inc. (V) (After market close)<\/li>\n
    • 2026-10-28 US \u2014 Alphabet (GOOGL, GOOG) (After market close)<\/li>\n
    • 2026-10-28 US \u2014 American Electric Power Company Inc (AEP) (Before market open)<\/li>\n
    • 2026-10-28 US \u2014 Automatic Data Processing Inc (ADP) (Before market open)<\/li>\n
    • 2026-10-28 US \u2014 Fortinet, Inc. (FTNT) (After market close)<\/li>\n
    • 2026-10-28 US \u2014 GE HealthCare Technologies Inc. (GEHC) (Before market open)<\/li>\n
    • 2026-10-28 US \u2014 Honeywell Aerospace Inc. (HONA) (After market close)<\/li>\n
    • 2026-10-28 US \u2014 KLA Corporation (KLAC) (After market close)<\/li>\n
    • 2026-10-28 US \u2014 Microsoft Corporation (MSFT) (After market close)<\/li>\n
    • 2026-10-28 US \u2014 Old Dominion Freight Line, Inc. (ODFL) (Before market open)<\/li>\n
    • 2026-10-28 US \u2014 O\u2019Reilly Automotive, Inc. (ORLY) (After market close)<\/li>\n
    • 2026-10-28 US \u2014 T-Mobile US Inc (TMUS) (Before market open)<\/li>\n
    • 2026-10-29 US \u2014 Alnylam Pharmaceuticals, Inc. (ALNY) (Before market open)<\/li>\n
    • 2026-10-29 US \u2014 Amazon.com Inc (AMZN) (After market close)<\/li>\n
    • 2026-10-29 US \u2014 Caterpillar Inc (CAT) (Before market open)<\/li>\n
    • 2026-10-29 US \u2014 Dexcom Inc (DXCM) (After market close)<\/li>\n
    • 2026-10-29 US \u2014 Gilead Sciences, Inc. (GILD) (After market close)<\/li>\n
    • 2026-10-29 US \u2014 Intel Corp (INTC) (After market close)<\/li>\n
    • 2026-10-29 US \u2014 Linde PLC (LIN) (Before market open)<\/li>\n
    • 2026-10-29 US \u2014 Merck & Co Inc (MRK) (Before market open)<\/li>\n
    • 2026-10-29 US \u2014 Mondelez International Inc (MDLZ) (After market close)<\/li>\n
    • 2026-10-29 US \u2014 Monolithic Power Systems Inc (MPWR) (After market close)<\/li>\n
    • 2026-10-29 US \u2014 SanDisk Corporation (SNDK) (After market close)<\/li>\n
    • 2026-10-29 US \u2014 Starbucks Corp (SBUX) (After market close)<\/li>\n
    • 2026-10-29 US \u2014 Strategy (MSTR) (After market close)<\/li>\n
    • 2026-10-29 US \u2014 Xcel Energy Inc (XEL) (Before market open)<\/li>\n
    • 2026-10-30 US \u2014 Chevron Corporation (CVX) (Before market open)<\/li>\n
    • 2026-10-30 US \u2014 Exelon Corp (EXC) (Before market open)<\/li>\n
    • 2026-10-30 US \u2014 Regeneron Pharmaceuticals, Inc. (REGN) (Before market open)<\/li>\n<\/ul>\n

      Market Holidays<\/h3>\n
        \n
      • 2026-10-26 TW \u2014 TWSE (Taiwan): Closed \u2014 Taiwan Restoration Day<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"

        Wall Street saw a strong tech-led rally driven by SpaceX and Super Micro earnings, boosting AI optimism. Australian shares are poised to open steady amidst rising French bond yields and geopolitical oil concerns.<\/p>\n","protected":false},"author":3,"featured_media":7165,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"wrap_published_at_et":"","wrap_author_name":"","wrap_author_url":"","wrap_author_linkedin":"","wrap_reviewer_name":"","wrap_reviewer_url":"","footnotes":""},"categories":[38],"tags":[39],"class_list":["post-7278","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-market-wraps","tag-us-close"],"acf":[],"yoast_head":"\nUS Tech Rally Ignites AI Optimism on Wall Street<\/title>\n<meta name=\"description\" content=\"Wall Street rallied on tech, led by SpaceX and Super Micro earnings, lifting AI optimism. 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