Dow Jumps 529 Points on Earnings Beat as Oil Slips; SpaceX Rises 4% After Profit Reversal

The Dow Jones Industrial Average climbed 529.85 points, or 1.02%, to 52,495.88 on Tuesday as stronger corporate earnings and falling oil prices offset lingering doubts over AI spending. The S&P 500 added 0.28% to 7,712.57, while the Nasdaq slipped 0.02% to 26,424.82. 3M (MMM) rose more than 5% after beating estimates and raising full-year guidance, and Northrop Grumman (NOC) gained over 4% on an earnings beat. West Texas Intermediate fell 1.8% to $101.79 a barrel and Brent dropped 0.7% to $108.79, while Treasury yields declined. Tech stayed cautious. Apple (AAPL) fell about 1% to $339.50 after Loop Capital cut it to Hold, citing roughly 10% cuts to iPhone shipment plans for the September and December quarters. Micron (MU) lost about 1% to $896.07, pressured by a potential Taiwan strike and the 32% debut plunge of Korean data-center firm Elice, which also dragged SK Hynix's ADR down 2.16%. Netflix (NFLX) fell 1.66% to $68.69 and dropped over 5% after hours as it cut its 2026 ad revenue forecast to about $2.7 billion from $3 billion. SpaceX (SPCX) rose over 4% after hours, reporting third-quarter revenue of $14.575 billion, up 161% year over year, and net income of $4.404 billion.