Market Review October 21: SpaceX Profit $4.4 Billion, Korean Dip Buyback, and Oil Pause
On Wednesday, October 21, 2026 (data as of 14:00 Almaty time / UTC+5), the market showed strong sector rotation: Dow Jones gained over 500 points on strong traditional economy reports, while Nasdaq stalled under pressure
On Wednesday, October 21, 2026 (data as of 14:00 Almaty time / UTC+5), the market demonstrated strong sector rotation: Dow Jones added more than 500 points on strong traditional economy reports, while Nasdaq stalled under pressure from high UST yields. However, the post-market session reversed sentiment — a strong SpaceX report (first profitable quarter since IPO) pushes Nasdaq futures up by 1%. In Asia, South Korea's KOSPI rose by +3.3%, fully recovering yesterday's decline.
US Post-Market: SpaceX Triumph ($4.4B Profit) and Netflix Collapse
Post-market turnaround: SpaceX reported Q3 results beating all expectations — revenue $14.58 billion, EPS $0.35 versus $0.13 forecast, and net profit reached $4.4 billion (main driver — AI segment). Conversely, Netflix shares fell by −5…−6% due to weak advertising revenue guidance.
IT sector signal: Preliminary sales of Super Micro (SMCI) rose to $18.5–19.5 billion (shares +16%), easing local tension ahead of evening reports from Meta and Tesla.
Exchanges: Full Recovery of KOSPI Dip (+3.3%) and Wall Street Split
Rally in Asia: South Korea's KOSPI soared by +3.3%, offsetting yesterday's losses. Shares of data center operator Elice jumped to the daily upper limit (+29.9%). Meanwhile, the Chinese market declined due to a weak performance report from battery giant CATL.
| Index / Exchange | Level / Close | Change for the Day |
|---|---|---|
| KOSPI (Korea) | 5,735.66 | +3.30% |
| Dow Jones (USA, Tue) | 52,495.88 | +1.02% (+530 pts) |
| Nasdaq Composite (USA, Tue) | 26,424.82 | −0.02% |
| Nikkei 225 (Japan) | 64,621.24 | +0.90% |
| Shanghai Composite (China) | 3,713.36 | −0.60% |
Europe: Stoxx 600 trades sideways (−0.1%), French government bond yields hold near 4.95% due to social protests and budget risks.
Macro and Commodities: Oil Pause ($109.5), Weak Housing Sector, and Gold Stagnation
Energy and threats: Brent crude consolidates around $109.5–110.4. The market assesses new risks: Iranian IRGC threatened strikes on underwater internet cables in the Strait of Hormuz. The high-risk spread on CCC-rated bonds rose to 1,072 bps (highest since 2022).
Weakness in real estate and precious metals: New home starts in the US fell by −5.2% month-over-month (1.22 million). The real 10Y rate at 2.74% continues to block gold’s growth, which ignores geopolitics and remains below $4,120.
Main Events Calendar for the Day (October 21, Almaty Time)
| Time | Event / Release | Status / Importance |
|---|---|---|
| 18:30 | Opening of the main US stock session (NYSE / Nasdaq) | High |
| ~01:05–01:30 (22.10) | Big Tech Quarterly Reports: Meta, Tesla, IBM, Lam Research | Critical |
| Thursday | Reports: Lockheed Martin, Comcast, Nokia, American Airlines | Medium |
What Traders Should Watch:
- Report season climax: Watch for Meta and Tesla reports after midnight (01:00 Almaty time). Night post-market moves will carry over to Thursday. Avoid rolling open US100 positions with high leverage through the cut-off.
- Liquidity flow into Dow Jones: With UST 10Y yields > 5.1%, capital favors profitable industrial companies over long-duration growth sectors.
- YouTrade discipline: The widening of CCC bond spreads to 1,072 bps signals hidden risks. Limit margin load to 70% and keep strictly controlled stops.