US stocks are opening higher, giving buyers the early advantage as investors digest earnings from SpaceX and Netflix, a stronger outlook from Super Micro Computer, and fresh AI announcements from Nvidia.
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Dow Industrial Average: The Dow is modestly higher to kickstart the day
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S&P 500: The broader S&P is up 18 points or 0.24%
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Nasdaq Composite: The tech heavy Nasdaq composite index is leading with a gain of 140 points or 0.56%
SpaceX climbs as AI and Starlink drive growth
SpaceX shares are trading higher by around 8.6% following a strong third-quarter report. Revenue surged 161% from a year ago to $14.6 billion, while net income reached $4.4 billion, reversing a year-earlier loss of $1.1 billion. Its Super Intelligence segment generated $7.6 billion in revenue, while Starlink finished the quarter with 13.6 million consumer subscribers, an increase of 1.6 million from the previous quarter. The growth is substantial, but so is the investment: quarterly capital spending totaled approximately $19.6 billion.
The price of SpaceX shares are back above the 200 and 100 hour MAs at $153.81 and 157.51 respectively. The low today held the 100 hour MA with a low at $158.20. Staying above is bullish and keeps the buyers in control.
Netflix falls as guidance overshadows an earnings beat
Netflix is seeing the opposite reaction, with shares down 4.5%. Third-quarter earnings of $0.87 per share beat expectations of $0.82, while revenue increased 11.8% to $12.87 billion. However, fourth-quarter guidance disappointed, with projected earnings of $0.67 per share below expectations of $0.73 and revenue of approximately $13.44 billion also below forecasts. Netflix additionally reduced its full-year advertising revenue outlook to approximately $2.7 billion from $3 billion, citing a slower rollout of some advertising capabilities.
The reaction provides a useful reminder for traders: an earnings beat does not guarantee a higher stock price. Investors also weigh what comes next against what was already expected. For Netflix, concerns about the outlook are carrying more weight than the latest quarter’s earnings beat.
Netflix shares are trading at the lowest level since August 2024 with a low today aof $64.10. The high price reached in July 2025 reached $134.12.
SMCI raises its outlook on stronger AI demand
Super Micro Computer is adding to the positive AI backdrop after sharply raising its preliminary revenue estimate for the September quarter. The company now expects fiscal first-quarter revenue of $18.5 billion to $19.5 billion, up from previous guidance of $14.5 billion to $15.5 billion, primarily reflecting stronger demand for AI platforms. At the midpoint, that is a $4 billion increase, or nearly 27%.
The improvement also extends to profitability. SMCI now expects gross margins of 12% to 12.5%, compared with its previous range of 10.4% to 10.8%, primarily because of its customer and product mix. Higher revenue alongside better margins gives investors two positives to consider ahead of the full quarterly results on November 3.
SMCI’s update provides evidence that demand for AI systems is running ahead of its earlier expectations. That brings Nvidia into focus as well. The servers need computing power, and Nvidia’s latest announcements highlight how the company is expanding its reach across the infrastructure supporting that demand. Shares are trading up near 14% in early trading.
Nvidia expands its AI partnerships
CEO Jensen Huang announced a series of partnerships during his keynote address and said Nvidia has invested nearly $10 billion across Europe over the past year, including investments in 14 European startups in the past week.
Among the announcements, Google Cloud plans to scale Nvidia’s Vera Rubin infrastructure to 960,000 GPUs. Partnerships with Schneider Electric and Infineon focus on the data centers and power systems needed to support that expansion, while work with Nokia aims to bring more AI capabilities into telecommunications networks.
The announcements extend beyond the chips themselves. Nvidia is also expanding its work with Dell, HPE and CrowdStrike across enterprise AI and security. For the broader stock market, that highlights how AI spending reaches across suppliers, infrastructure providers and business applications. Investors will continue to judge how effectively those investments translate into revenue and earnings.
For Nvidia traders, that provides the fundamental backdrop. Now the price action needs to confirm the story. Today’s gains give buyers their opportunity, but getting above resistance—and staying above it—is what would strengthen the technical case.
Looking at the hourly chart, Nvidia has tested its 100-day moving average, currently at $214.62, several times since last Wednesday. The price dipped below that key longer-term barometer on Wednesday, Friday and again yesterday. Each time, however, sellers failed to build downside momentum.
The sellers had their shot. They could not get the price to break and run.
Today, buyers are pushing back. Nvidia has traded as high as $222.16 and is currently near $221, up about $4.50 on the day. That moves the price away from the 100-day moving average and gives buyers some breathing room. However, holding support is only the first step. There is still work to do before buyers can claim more control.
The next hurdle comes near $225, where the 200-hour moving average and a broken upward-sloping trendline converge. Getting back above that area would be a positive step. Above that, the 100-hour moving average at $227.55 becomes the next target.
Those levels provide a roadmap. Move above $225 and then $227.55—and stay above them—and the technical picture improves. Buyers would have reclaimed both hourly moving averages and moved back above the broken trendline, opening the door for a potential run toward the all-time high at $243.37.
Until then, this remains a rebound from important support with resistance still overhead. If sellers stall the recovery at those hurdles, they keep the opportunity to push back toward the 100-day moving average.
The lesson for traders is straightforward: a successful defense of support gives buyers a chance. Reclaiming resistance helps confirm they are taking control. Nvidia has accomplished the first part. Now buyers need to follow through.
This article was written by Greg Michalowski at investinglive.com.