Our top 10 things to watch in the stock market Wednesday

My top 10 things to watch Wednesday, Oct. 21 — Today's newsletter was written by Jeff Marks, the Club's director of portfolio analysis. 1. Stock futures are higher across the board this morning. The biggest gains are in the Nasdaq , which is getting a boost from SpaceX's 8% post-earnings pop and gains in chip stocks. Oil prices and bond yields are mostly steady and not standing in the way of stocks. 2. Elon Musk's SpaceX turned in a much better-than-expected quarter. Each reporting segment — Space, Connectivity, and Super Intelligence — reported positive adjusted EBITDA. Special committees have been formed to explore a merger with Musk's Tesla. No slowdown in its AI infrastructure buildout. Musk said he is confident in brining an incremental 10 GW of compute online in 2027. He said the biggest constraint in deployment is power, cooling, and infrastructure, not chips. 3. Netflix shares are tumbling 6% after the streaming giant reported disappointing results, which wasn't a complete surprise due to recent leadership shakeups and layoffs. Fourth-quarter revenue outlook was below expectations due to a delay in rolling out some advertising product features. Lots of price target cuts. Needham downgraded to hold from buy. The one-time darling is now a fiercely debated name. 4. Club name Capital One reported strong quarterly results last night, driven by better-than-expected net interest income and credit metrics. Shares are up nearly 4%. CEO Richard Fairbank said you can almost "reach out and touch" the full earnings power of the Discover-Capital One combination. Minor tweaks to price targets. Citi came out the strongest, saying the string of negative earnings revisions is over. It went to $285 from $280 and kept its buy rating. 5. Will Super Micro Computer breathe new life into the AI theme? The server maker preannounced a huge beat for the September quarter, expecting net sales of $18.5 billion to $19.5 billion, well above estimates of $15 billion. The stock is soaring 12%. But if you are going to pick one in this group, our preference is still best-in-breed Dell , which is up 7%. 6. Third-quarter results from Abbott Laboratories look mostly in line, but shares are off 4% after lowering its full-year comparable sales growth outlook to 6% (down from 6.5% to 7.5%). The diversified healthcare company also announced plans to spin off its nutrition business, which is a positive development because this unit has been a major drag. We exited Abbott Labs about a year ago. 7. Danaher shares are falling 3.5% after the healthcare tools maker missed sales estimates but beat on adjusted earnings per share. The company raised its full-year earnings outlook. However, it lowered its core revenue growth outlook to 2.5% (down from 3% to 4%). Ex-Club name. Tough stock, though the tools group has had a big move since the spring. 8. United Airlines shares are flat this morning after the carrier missed on quarterly earnings and revenue and cut its outlook. The reason: High jet fuel prices are impacting profitability. However, CEO Scott Kirby told CNBC that passengers keep booking despite United passing along 72% of the fuel price surge to consumers. Delta Air Lines told a similar story earlier this month . 9. Micron announced today an agreement with a union representing workers at its Taichung operations in Taiwan. The memory giant still needs to reach a separate deal with a union in nearby Taoyuan. Removing the threat of a strike at the larger Taichung production site is a relief, which is being reflected in today's more than 3% rally in the Club stock. 10. Shares of eBay are little changed after Reuters reported the online marketplace plans to cut 9% of its workforce. It would be the second round of layoffs this year. Back in February, eBay cut 6% of its workforce. The company is set to report earnings next week. The stock has had a strong 2026, up nearly 40% year to date, closing at a record high last week. Sign up for my Top 10 Morning Thoughts on the Market email newsletter for free (See here for a full list of the stocks at Jim Cramer's Charitable Trust.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED.