Tech-heavy Nasdaq climbs 1.05% after Musk's SpaceX reports strong results, lifting chip makers; oil retreats 0.50% as natural gas plunges 5%.
S&P 500 (SPY) — 773.09 (+0.53%) [Twelve Data] · Nasdaq 100 (QQQ) — 725.20 (+1.05%) [Twelve Data] · Dow Jones (DIA) — 527.70 (+0.64%) [Twelve Data] · Gold (GLD) — 378.95 (+0.34%) [Twelve Data] · US Oil (USO) — 159.80 (-0.50%) [Twelve Data] · Natural Gas (UNG) — 9.97 (-5.05%) [Twelve Data] · Bitcoin (BTC) — 82,762 (+0.08%) [Binance US] · Ethereum (ETH) — 2,438 (+0.01%) [Binance US]
Blue-chip strength lifted the Dow over 1% while tech lagged; Bitcoin and altcoins advanced in tandem with broader risk appetite as oil and gold eased.
U.S. equities posted broad gains Wednesday, driven by a tech-sector relief rally after SpaceX reported strong earnings that eased fears about the profitability of artificial-intelligence investments. The Nasdaq Composite climbed 1.05%, outpacing the S&P 500's 0.53% advance and the Dow's 0.64% rise, according to the Wall Street Journal. Chip makers led the session, buoyed by investor optimism that AI infrastructure spending remains on solid footing despite recent valuation concerns.
The SpaceX results marked a critical inflection point for sentiment around AI capital expenditure. Elon Musk's aerospace company, which has committed heavily to AI infrastructure, delivered figures that reassured investors the sector's massive spending is translating into revenue growth. The rally extended to Super Micro Computer, which saw gains after preliminary sales data brought relief to a stock that had fallen more than 13% in prior sessions, according to Bloomberg and WSJ.
In a structural shift for U.S. markets, the NYSE and Nasdaq are moving to launch 23-hour stock trading, according to the Wall Street Journal. The exchanges are extending hours in response to competition from decentralized platforms, tokenized assets, and crypto derivatives that operate around the clock. The move signals a long-term convergence between traditional equity markets and the always-on infrastructure of digital assets, though implementation details and retail-trader adoption remain uncertain.
European equities edged higher despite headwinds from violent unrest in France, the eurozone's second-largest economy. Strong corporate earnings offset concerns about civil disorder and next year's budget uncertainties, according to Reuters. French government bonds underperformed German Bunds as investors priced in fiscal risk, while Belgian and Italian debt also came under pressure. The pan-European rally remained fragile, with stocks down roughly 1% since riots erupted over the weekend.
In M&A, Dutch paint company Akzo Nobel is in early talks to sell its European vehicle refinishing business to secure regulatory clearance for its proposed merger with U.S. peer Axalta Coating Systems, according to WSJ. The divestiture would address antitrust concerns and clear the path for a deal that would reshape the global coatings industry.
Gold rose 0.34% and silver gained 0.27%, extending a modest advance as investors balanced risk appetite in equities with persistent inflation concerns tied to elevated energy costs. The precious-metals complex continues to find support from sticky inflation prints across major economies, even as risk-on sentiment in equities caps upside.
Natural gas plunged 5.05%, marking a sharp divergence from crude oil's more modest retreat. The move reflects seasonal demand dynamics and oversupply concerns in the gas market, contrasting with oil's resilience amid geopolitical risk premiums. According to the Wall Street Journal, one fuel bill is poised to be lower this year, likely referencing natural gas, though the article did not provide specific price forecasts.
Crude oil slipped 0.50% as traders took profits following a recent rally that pushed prices to five-month highs near $110 per barrel, according to Reuters. The pullback came despite persistent geopolitical risk premiums tied to the U.S.-Iran conflict and elevated energy costs that continue to permeate household budgets globally.
Reuters reported that high oil prices are making their mark on daily life, raising costs for transport, heating, food, clothing, and packaging. The spillover into broader inflation has contributed to elevated borrowing costs, with central banks facing pressure to maintain restrictive policy even as growth slows. Gas prices in Asia and Europe hit their highest levels since December 2022, adding to the inflationary burden.
The energy complex remains caught between supply-side risks—including potential disruptions from the Iran conflict—and demand-side headwinds as high prices weigh on consumption. Eurozone bond yields rose in opening trade Wednesday, tracking higher oil prices and U.S. Treasury yields, according to WSJ. The interplay between energy costs and monetary policy continues to define the macro backdrop for risk assets.
Bitcoin edged up 0.08% to $82,762, while Ethereum was nearly flat at $2,438, as crypto markets consolidated recent gains in a low-volatility session. Solana fell 0.90% despite the successful activation of its Alpenglow network upgrade, the blockchain's biggest overhaul since 2020, which promises significantly faster transaction finality, according to CoinDesk. The muted price reaction suggests investors are waiting for on-chain metrics to confirm the upgrade's impact on network activity and developer adoption.
The broader crypto market is showing signs of a regime shift from "sell the rips" to "buy the dips," according to CoinMarketCap analysis. Bitcoin's rally through $81,000 earlier this week has been interpreted by some analysts as evidence the bear market has ended, with the "debasement trade" narrative gaining traction. The thesis holds that sticky inflation and easy-money government policies favor hard assets like Bitcoin, though the token's recent price action has been range-bound rather than explosive.
In regulatory developments, the U.S. Securities and Exchange Commission approved a Nasdaq pilot program to trade tokenized stocks alongside traditional shares on the same order book at the same price, according to CoinMarketCap. The approval marks a significant step toward integrating blockchain-based securities into mainstream capital markets, though the pilot's scope and timeline remain limited. Separately, crypto executives are urging lawmakers to pass the CLARITY Act when Congress returns in September, warning that further delays could squander momentum for stablecoin and DeFi regulation, according to CoinMarketCap.
NEAR Protocol launched NEAR Business, a confidential corporate treasury solution targeting institutional adoption, while a governance vote proposed cutting annual token issuance from 2.5% to 1.6%, according to CoinMarketCap. Arbitrum saw its lifetime transactions surpass 2.4 billion as privacy tech firm Fhenix launched its CoFHE coprocessor on mainnet, enabling confidential computations for Arbitrum and Ethereum applications. Flare integrated FXRP into a major lending vault, contributing to a 150% surge in DeFi lending vaults, while nearly half of active FLR is now staked following the FIP.16 upgrade.
U.K. inflation accelerated to 3.5% in September from 3.1% in August, driven by rising energy costs, according to the Wall Street Journal. The print came in above the Bank of England's target and ahead of a policy meeting that investors expect will yield the first rate increase since the start of the U.S.-Iran conflict. The data underscores the challenge facing central banks as energy-driven inflation proves stickier than anticipated, complicating the path to policy normalization.
The European Central Bank published a blog post examining the resilience of the eurozone economy, noting that despite a sharp rise in energy prices in early 2026, the region has proved resilient. The ECB attributed the relative stability to decreased vulnerability to energy shocks, policy support, and the global AI upswing, according to the post. However, the analysis also explored what is needed to sustain that resilience, implicitly acknowledging risks from elevated energy costs and geopolitical uncertainty.
French civil unrest continued to weigh on eurozone sentiment, with violent riots prompting the government to deploy troops to contain the disorder. The unrest has added fiscal uncertainty to an already fragile budget outlook for 2027, pressuring French government bonds relative to German Bunds. Belgian and Italian debt also underperformed, reflecting broader concerns about peripheral eurozone stability.
In the U.S., the economy remains a mixed picture of inflation, inequality, and stock-market gains, according to an AP News fact-check on the Trump administration's economic record ahead of the November 3 midterm elections. The report noted that while markets have rallied, the economy has not lived up to the administration's promises, and public satisfaction remains low. The political backdrop adds uncertainty to fiscal and regulatory policy as the midterms approach.
Investors will monitor whether SpaceX's earnings relief translates into sustained gains for AI-exposed chip makers, or whether valuation concerns resurface. U.K. and eurozone central-bank meetings loom as inflation remains above target, with energy costs the key variable. In crypto, on-chain metrics from Solana's Alpenglow upgrade and institutional adoption of NEAR Business will test whether the "debasement trade" narrative can drive Bitcoin toward six figures.
The Knightron Crypto editorial team — deep-research writers covering crypto, Web3, exchanges and markets across MENA, APAC and beyond.
Growth stocks outperformed value as bond yields eased and AI-sector concerns faded; Bitcoin ETF flows turned positive after seven-day streak of outflows.
Nasdaq 100 drops 2.5% on AI investment doubts while WTI crude jumps nearly 3% amid geopolitical tensions; crypto markets edge higher.
