The stock market surged on Wednesday following Democrats’ sweeping midterm election victory, which eased political uncertainty and boosted investor sentiment.
S&P 500 jumped 1.6% to 7,689, while Nasdaq rose 1.4% to 25,737.
Notable stocks include Amazon (AMZN) +6%, Apple (AAPL) +5%, and Alphabet (GOOGL) +3%.
Chart of the Day
Here is the one-year chart of SpaceX (SPCX) as of August 10, 2026, when the stock was at $138.
SpaceX (SPCX) expanded beyond rockets and satellite internet as its Super Intelligence (SI) business rapidly grows to meet demand for AI compute. Last quarter, SpaceX’s SI business revenue jumped 830% year over year, driven by the activation of new cloud services agreements, the acquisition of Cursor, and increased Grok adoption across enterprise customers and consumers. Cursor is an AI-powered coding tool that helps developers write, edit, debug and understand code faster using artifical intelligence.
SpaceX ended the quarter with 1.7 gigawatts of compute capacity and expects to reach 2.5 to 3 gigawatts by the end of October, while targeting around 13 gigawatts by the end of 2027.
Meanwhile, Grok bot – an AI agent that automates tasks and performs actions online – had already reached 800,000 paid weekly users, more than doubling over the previous month.
SPCX is part of the Growth Portfolio and Focus List.
