Tech-Led Rally Pushes Nasdaq to 1.13% Gain as Meta, Tesla Earnings Boost Sentiment
MarketsFN Team
US equities climbed higher Wednesday, led by a 1.13% surge in the Nasdaq 100 as strong earnings from Meta and Tesla outweighed energy sector weakness after WTI crude plunged 3.87% to $97.85 on surprise inventory builds.
🇺🇸 US Session Overview
The S&P 500 gained 0.58% to close at 7,757.17, while the Dow Jones advanced 0.69% to 52,856.09. The tech-heavy Nasdaq 100 outperformed with a 1.13% jump to 29,822.52, buoyed by post-earnings optimism around Meta's revenue beat and Tesla's better-than-expected results despite declining auto revenue. Small caps lagged, with the Russell 2000 edging up just 0.27%.
📅 Economic Calendar Highlights
Today's data showed US crude inventories fell 3.06M barrels, less than the prior week's 8.557M draw but significantly below the 0.1M forecast, triggering oil's sharp decline. The 20-Year Bond Auction cleared at 5.469%, slightly above the previous 5.42%. UK inflation surprised to the upside with September CPI at 3.5% YoY versus 3.4% expected, keeping pressure on the Bank of England.
📋 Earnings Spotlight
Meta shares rallied after reporting Q3 revenue above estimates and issuing strong guidance, though the gains were tempered by news of a $25 billion penalty in the New Mexico Cambridge Analytica case. Tesla climbed despite declining auto revenue as investors focused on earnings beats and Elon Musk's hints at SpaceX collaboration.
💱 FX & Commodities
The dollar was mixed, with GBP/USD surging 0.66% to 1.3396 on hot UK inflation data, while USD/JPY dipped 0.22% to 158.18. Commodities diverged sharply - Brent crude gained 1.01% to $109.89 even as WTI tumbled, while natural gas crashed 6.48% to $2.77. Bitcoin and Ethereum both rose about 1.8%, continuing their recent uptrend.
Asian markets open Thursday with focus on Japan's trade data and Australia's employment figures, while US traders await weekly jobless claims and existing home sales. The tech rally's sustainability will be tested as more megacaps report earnings this week.
🇺🇸 US Indices — Session Close
| Index | Price | Change | Change % |
|---|---|---|---|
| S&P 500 | 7,757.17 | ▲ +44.60 | ▲ +0.58% |
| Nasdaq 100 | 29,822.52 | ▲ +332.24 | ▲ +1.13% |
| Dow Jones | 52,856.09 | ▲ +360.21 | ▲ +0.69% |
| Russell 2000 | 2,781.02 | ▲ +7.60 | ▲ +0.27% |
💱 FX Majors
| Pair | Rate | Change % |
|---|---|---|
| EUR/USD | 1.1236 | ▲ +0.18% |
| GBP/USD | 1.3396 | ▲ +0.66% |
| USD/JPY | 158.18 | ▼ -0.22% |
| AUD/USD | 0.7032 | ▲ +0.71% |
| USD/CHF | 0.8243 | ▼ -0.31% |
🛢️ Commodities & Crypto
| Asset | Price (USD) | Change % |
|---|---|---|
| Gold (XAU/USD) | 4,152.50 | ▲ +0.24% |
| Silver (XAG/USD) | 58.04 | ▲ +0.58% |
| Crude Oil (WTI) | 97.85 | ▼ -3.87% |
| Brent Oil | 109.89 | ▲ +1.01% |
| Natural Gas | 2.77 | ▼ -6.48% |
| Bitcoin | 84,470.92 | ▲ +1.84% |
| Ethereum | 2,488.96 | ▲ +1.73% |
📅 Economic Calendar
All times in UTC — Actual highlighted where available
| Time | Currency | Event | Imp. | Actual | Forecast | Previous |
|---|---|---|---|---|---|---|
| 06:00 | GBP | CPI (YoY) (Sep) | 🔴🔴🔴 | 3.5% | 3.4% | 3.1% |
| 14:30 | USD | Crude Oil Inventories | 🔴🔴🔴 | -3.060M | -0.100M | -8.557M |
| 06:00 | GBP | CPI (MoM) (Sep) | 🟡🟡 | 0.4% | 0.3% | 0.5% |
| 06:00 | GBP | PPI Input (MoM) (Sep) | 🟡🟡 | 1.5% | 1.3% | 0.5% |
| 06:30 | IDR | Interest Rate Decision | 🟡🟡 | 5.75% | 6.00% | 5.75% |
| 14:30 | USD | Cushing Crude Oil Inventories | 🟡🟡 | 0.987M | 1.862M | |
| 19:00 | USD | 20-Year Bond Auction | 🟡🟡 | 5.469% | 5.420% | |
| 04:15 | EUR | ECB's Lane Speaks | 🟡🟡 | — | ||
| 07:15 | EUR | German Buba President Nagel Speaks | 🟡🟡 | — | ||
| 11:30 | INR | RBI MPC Meeting Minutes | 🟡🟡 | — | ||
| 13:00 | GBP | BoE Gov Bailey Speaks | 🟡🟡 | — | ||
| 13:15 | EUR | German Buba Mauderer Speaks | 🟡🟡 | — | ||
| 16:00 | EUR | ECB President Lagarde Speaks | 🟡🟡 | — | ||
| 21:45 | NZD | CPI (QoQ) (Q3) | 🟡🟡 | — | 0.8% | 1.5% |
| 21:45 | NZD | CPI (YoY) (Q3) | 🟡🟡 | — | 3.8% | 4.1% |
Report published: October 21, 2026 — 22:20 CET
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