Market Open: SpaceX Boosts Market Sentiment, Netflix Slides, Mortgage Applications Drop 10-21-2026

0:02I'm Peter Schacknow, CNBC. Stocks have opened mostly higher with market sentiment helped by lower oil prices and an upbeat earnings report from SpaceX. The Dow is down by 18 points at 52 ,478, but the S &P 500 is two-tenths of a percent higher or 15 points, and the Nasdaq adding 125 points or half a percent. SpaceX shares are up about 8.5 % in early trading, and its terrestrial data center performance is boosting sentiment about the artificial intelligence trade in general. What I think got people so excited is the ability to monetize their terrestrial capacity at a pretty high value. And they were talking before$30 to$50 per watt, which is like some of the short-term deals we've seen already with Anthropic and Google.

0:48And they believe they can continue to get that, if not more, which made it economically attractive for them to do a terrestrial build-out. That's Doug Harnett, aerospace and defense analyst at Bernstein. Among other stocks on the move, Netflix is down nearly 7%. Its earnings did beat street forecasts, but the streaming service cut its ad revenue outlook. AT &T is sliding about 6.5%. Earnings and revenue did top analyst expectations, but some investors were disappointed by the wireless unit's subscriber growth. Mortgage applications fell 5.3 % over the past week, according to new data from the Mortgage Bankers Association.

1:25Mortgage rates dropped to 7.41 % from 7.5 % last week, but that was not enough to boost activity. Peter Schachnow, CMBC. Hey, Fidelity. Can I get a second opinion on stocks in the Fidelity app? With Fidelity, it's easy to get an outside opinion from independent experts in a single score. And then? When you're ready, trade U.S. stocks and ETFs with no commissions. That's right. I am always right. Investing involves risk, including risk of loss. Zero dollar commission does not apply to customers designated by Fidelity as a professional equity trader. A limited number of ETFs are subject to a service fee of$100.

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