SpaceX Q3 Profit Drives US Equity Futures Higher Pre-Bell

US equity futures rose Wednesday before the opening bell, driven by upbeat third-quarter financial results from SpaceX (SPCX). The company reported a swing to profit as revenue increased, citing sharp gains in its artificial intelligence and connectivity divisions. SpaceX stock climbed 7.5% in premarket trading following the late Tuesday announcement.

Dow Jones Industrial Average futures gained 0.1%, while S&P 500 futures rose 0.2%. Nasdaq futures led the advance, up 0.6% in pre-bell activity. Traders also evaluated other corporate earnings released before the market opened. Philip Morris International (PM) and Thermo Fisher Scientific (TMO) both reported higher third-quarter adjusted earnings and revenue.

Investors look ahead to post-market reports from Meta Platforms (META) and Tesla (TSLA). Analysts polled by FactSet project Meta will earn $6.54 per share on revenue of $63.34 billion. For Tesla, the consensus expects adjusted earnings of $0.45 per share on revenue of $28.06 billion.

Commodity markets moved higher alongside equities. Front-month North Sea Brent crude, the global benchmark, rose 0.6% to $109.40 per barrel. US West Texas Intermediate crude increased 0.8% to $98.59 per barrel. These gains coincided with reports from Reuters that Russia is set to send its first vessel carrying 40,000 metric tons of diesel to the US on Thursday, following a deal with President Trump.

In a separate development, the Trump administration is offering to loan up to 315,000 barrels of heating oil from the US emergency heating oil reserve, according to Reuters citing the Department of Energy. The Atlanta Fed Business Inflation Expectations survey for October is scheduled for release at 10 am ET.