Nasdaq Pops 1.1%, Fueled By SpaceX Earnings: Salesforce, ADI, Qualys In Focus

Software stocks like Salesforce and Qualys show relative strength while semiconductors remain technically broken despite Wednesday's market-wide rally.

• Nasdaq reclaims 50-day line: The Nasdaq composite closed up ~1.1% on Wednesday, retaking its 50-day moving average, though breadth was weak at roughly 7-to-5 positive on the exchange.
• SpaceX earnings drive the tape: SpaceX posted a 'blowout' quarter with data center revenue exceeding half of total revenue, sparking a strong (if faded) stock gain and lifting tech sentiment.

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