Markets
Anfernee Simons #2 of the Chicago Bulls dribbles during the second half of their NBA game against the Toronto Raptors at Scotiabank Arena on February 5, 2026 in Toronto, Ontario, Canada.
(Cole Burston/Getty Images)

Stocks bounce back powered by tech rebound

Tech rose amid AMD and Meta’s chip deal, and software stocks recovered as investors shook off yesterday’s dystopian AI report.

Tasha Matsumoto

The S&P 500, Nasdaq 100, and Russell 2000 each rose as stocks bounced back amid abating AI anxiety.

Today’s rally lifted shares in all sectors except for energy and healthcare. Consumer discretionary was the best-performing sector, lifted by gains in Amazon and Tesla, followed by industrials, then tech. Alphabet was the only Magnificent 7 stock to close in the red.

Bitcoin stabilized after falling below $63,000 early this morning, a 50% drop from its October 6 all-time high.

Stocks that moved higher:

Stocks that moved lower:

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SpaceX gets a wave of bullish ratings from Wall Street analysts

SpaceX received more than a dozen positive analyst calls on Tuesday — including from major Wall Street banks — as they initiate coverage on Elon Musk’s space and AI company.

SpaceX went public on June 12 at a $2.2 trillion valuation, the largest debut in history. While the company hasn’t yet posted a profit, it seems to have convinced Wall Street that it will get there and grow its valuation on the way.

Of the at least 17 analysts that gave a rating on Tuesday, all but one gave it a “buy” or “outperform” rating. MoffettNathanson was "neutral."

The ratings come as SpaceX joined the Nasdaq 100 index, a benchmark tech-heavy basket of companies that underpins millions of portfolios. The inclusion adds built-in demand for the stock from index funds and ETFs.

Still, SpaceX fell more than 5% on Tuesday amid a broader sell-off, and is currently effectively flat from its opening price of $150 a share.

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