Earnings results have come in strong, yet the broader index response has been more muted. SpaceX jumped 7.80% after its AI revenue rose nearly tenfold, while Tesla added 3.40% following talk of a potential merger between the two companies. The Philadelphia Semiconductor Index recovered nearly 2%, and the Nasdaq 100 rebounded more than 1%, suggesting pockets of strength rather than a broad-based lift.
Meta Earnings and Capital Expenditure Outlook
After the bell, Meta beat expectations and reported a narrower free cash flow deficit, with negative $2.12 billion versus an expected $8.5 billion outflow. The company also lifted the lower end of its capital expenditure guidance, moving the range from $130–145 billion to $135–145 billion, pointing to continued heavy spending plans alongside improved cash dynamics.
