S&P 500 and Nasdaq: Tesla’s Rebound Gives Bulls a Boost as Traders Brace for Intel Forecast

Wall Street Climbs as Traders Eye Intel, Tech Steadies After Tesla Drag

Stocks edged higher Thursday afternoon, with the Nasdaq up 0.84% and the S&P 500 gaining 0.54%, as traders digested a flood of earnings while positioning around Intel’s highly anticipated report after the close. With the chipmaker up over 100% in two months on politically driven buying, expectations are sky-high — and the market is holding its breath.

Is tech doing enough to steady the market?

Tesla’s miss capped early gains. Shares slipped 1% after missing earnings, despite a top-line beat, but turned around to trade 1.30% higher. Higher capex and cautious commentary weighed.

IBM also disappointed, shedding 2.5% on flat cloud software growth. Still, traders didn’t dump tech across the board. Nvidia, Meta, and Amazon each gained roughly 1%, suggesting buyers are still showing up — selectively.

Honeywell jumped 7% after raising its 2025 profit outlook, helping the Dow stay afloat. American Airlines beat lowered expectations and added 4%. West Pharmaceutical surged 11% on strong GLP-1-related demand. But risk appetite remains selective, with signs of profit-taking under the surface.

Where are traders placing their bets ahead of the bell?

Intel’s after-hours report is the main event. The stock has doubled since August, ripping from $19 to nearly $40. But this run hasn’t been about business strength — it’s been fueled by $16 billion in outside capital, including a 9.9% U.S. government stake, a $5 billion buy from Nvidia, and a 2% investment from SoftBank. The message: Intel matters again.

Still, revenue remains stagnant, and foundry losses are deep. Citi downgraded the stock in September, warning that Intel’s roadmap still trails TSMC by years. Q3 consensus is for just $0.01 EPS on $13.1 billion in revenue. Unless Intel beats handily or announces a big foundry customer, this rally may run out of gas. Volatility is almost a given.

What other names are making waves?

Super Micro dropped 7% on a slashed Q1 outlook. T-Mobile fell more than 5% after missing on revenue and overspending. Wyndham lost 6% on a cut to full-year guidance, while Knight-Swift dropped 6% on weak earnings.

On the upside, Hexcel soared 15% after a beat and buyback news. Medpace added 12% on strong results and guidance. Las Vegas Sands jumped 12% as Macau and Singapore growth powered a big beat.

Quantum computing stocks popped after reports the Trump administration is eyeing equity stakes. IonQ and Rigetti gained double digits, as traders chased the federal tailwind. Meanwhile, energy stocks climbed with crude, helped by fresh sanctions on Russia.

Can the rally hold without stronger data support?

With no major economic reports hitting the wires — thanks to the government shutdown — traders are flying blind. Friday’s core CPI is the next big signal on inflation, and it’s carrying extra weight ahead of next week’s Fed decision. A soft read could cement rate-cut bets. A hot one could kill them.

The near-term direction may hinge on Intel. If earnings justify the surge and guidance points to a turnaround, tech could gain real traction into week’s end. But if it disappoints, the broader market could lose momentum fast. Positioning is cautious, but not defensive. Traders are leaning in — with stops close.

Bottom line: Tech is doing just enough, but it’s Intel’s move that could shape how this week finishes. Expectations are elevated. So is risk.

More Information in our Economic Calendar.