Market Recap: U.S. stocks finished mostly higher Tuesday, with the Dow gaining 1%. The S&P 500 rose 0.3%, while the Nasdaq slipped less than 0.1%. Healthcare shares helped lead the advance as investors looked beyond technology stocks.

Brent crude pulled back from a five-month high Tuesday amid conflicting reports about efforts to end the U.S.-Iran war, settling at $108.79 a barrel.

Tuesday’s earnings offered a mixed picture. Better-than-expected profits from Equifax and Hasbro helped support stocks, while General Motors fell nearly 7% despite beating estimates, as its full-year profit outlook disappointed.

After the closing bell, SpaceX reported stronger-than-expected profits as revenue surged 161% to $14.6 billion, driven by its AI and Starlink businesses. Starlink added fewer subscribers than analysts expected. Netflix beat quarterly earnings estimates but cut its 2026 advertising forecast to about $2.7 billion from $3 billion and issued a softer fourth-quarter profit outlook.

Today’s Focus: Corporate earnings take center stage again Wednesday, with Meta, Tesla and IBM among the companies scheduled to report. Their results will offer a fresh test of investor confidence after concerns about the cost and payoff of AI investments unsettled technology shares.

For Meta, attention will center on whether AI spending is translating into stronger business results. Tesla’s report will provide another look at vehicle profitability and the cost of its longer-term investments.

The Federal Reserve’s next decision is one week away. In a Reuters survey released Tuesday, 94 of 100 economists expected policymakers to leave rates unchanged at their October 27-28 meeting. All 100 expected a rate hike in December.

ON THE SCHEDULE FOR WEDNESDAY, OCTOBER 21, 2026

-10:30 a.m. ET - EIA weekly petroleum inventories report

-1 p.m. ET - Treasury 20-year bond auction

-Corporate earnings - AT&T, Meta, Tesla and IBM

-Thursday, 8:30 a.m. ET - Weekly initial jobless claims

-Thursday, 10 a.m. ET - September Conference Board Leading Economic Index

-Friday, 9:45 a.m. ET - Preliminary October S&P Global manufacturing and services PMIs

-Friday, 10 a.m. ET - Final October University of Michigan consumer sentiment and inflation expectations