S&P 500 climbs 1.8% to a record as SpaceX posts $US541 million quarterly loss and oil slides
AI Market Summary
US equities hit fresh records as spring earnings beat expectations and AI-linked names drove broad gains, reinforcing confidence in profit resilience despite inflation and geopolitical risks. A sharp drop in Brent eased near-term inflation concerns and pulled Treasury yields lower, improving financial conditions. Strong reports from Palantir and Caterpillar, plus strength in semiconductors, supported the risk-on tone, with positive spillover to global markets and Australia's open.
Impact level
● High
Affected assets
NCSISP5002USD/USDT+1.92%
AI Insight · NCSISP5002USD/USDTAI Insight
▲ Bullish
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US stocks surged to record levels as corporate earnings beat expectations and oil prices fell. SpaceX reported a $US541 million loss in its first quarterly report as a public company, but it was smaller than Wall Street anticipated while revenue jumped. Australian share futures pointed to a 35-point, or 0.4%, gain at the open, and the Australian dollar strengthened to US70.47¢. Caterpillar posted its first-ever quarterly sales above $US20 billion, and S&P 500 spring earnings growth expectations were nearing 50%, according to FactSet.
