December Nasdaq 100 E-Mini futures (NQZ26) are up +0.64% this morning as strong results from SpaceX and Super Micro Computer helped revive optimism surrounding the AI trade.
SpaceX (SPCX) surged over +9% in pre-market trading after the rocket and AI company posted upbeat Q3 results and CEO Elon Musk said he expects annual recurring revenue of between $500 billion and $1 trillion by the end of 2027. Musk also said SpaceX and Tesla have established committees to evaluate a possible merger. In addition, the company projected Q4 capital expenditures of $35 billion to $40 billion, a sharp increase from the previous quarter.
