Tech Stocks Lead US Markets Higher on Earnings Beats

US stock indexes ended higher on Tuesday, led by tech stocks, following earnings reports from major players.

SpaceX's shares rose 9.43% to $125.33 after posting a second-quarter loss of 9 cents per share, beating estimates for a 24-cent loss, while revenue surged 92% year-over-year to $7.81 billion, topping the $6.93 billion consensus.

AMD's stock climbed 7%, ending at $518.58, after reporting second-quarter adjusted EPS of $1.66, beating estimates of $1.61, while revenue rose 50% year-over-year to a record $11.54 billion, topping the $11.28 billion consensus.

Nvidia shares increased by 2.56%, closing at $211.94, following praise from Elon Musk during SpaceX's earnings call for their systems' superiority in AI computing.

Astera Labs Inc.'s stock rose 12.65% to $361.67 after reporting second-quarter adjusted EPS of 80 cents, beating estimates of 69 cents, while revenue surged 104% year-over-year to a record $392.4 million, topping the $360.7 million consensus.

Autonomix Medical shares skyrocketed by 434.25%, closing at $19.50, after receiving a U.S. Patent expanding intellectual property protection for its minimally invasive nerve-mapping and targeting platform.