U.S. stocks rose on the 21st, but on the 22nd, the outlook is likely to diverge amid profit-taking pressure and mixed earnings. Meta rose after hours, while Lam Research plunged.
The Dow rose from the previous day in U.S. trading on the 21st, while the SOX remained firm. Following earnings announcements, moves in SpaceX and SMCI drove the market, attracting buying focused on technology stocks.
In earnings-related moves, Meta Platforms rose after hours, while Lam Research plunged. As a result, technology and semiconductor stocks moved in opposite directions, making it difficult for the major indexes to establish a clear direction.
Meanwhile, SpaceX's revenue for the third quarter of 2026 surged 161% year on year, sending its stock sharply higher after hours. SMCI presented a strong preliminary outlook for first-quarter revenue, and its shares jumped. Buying also spread to peers such as Dell and HPE.
Higher oil prices and the risk of rising interest rates are being viewed as potential headwinds for the market. WTI and Brent traded at elevated levels during the day, while rising U.S. long-term yields could put pressure on equities.