Stock futures are ticking higher, suggesting that this week's rally may still have more room to run. However, SpaceX and AMD bucked that positive trend, both reporting earnings after the close yesterday. Elon Musk's rocket company beat Wall Street expectations but disclosed huge AI investments that may have rattled investors, causing its shares to slump in premarket trading. Despite record sales, AMD shares also fell ahead of the bell after Musk said SpaceX would exclusively use chips from its rival Nvidia. Earnings season continues today with results due from Disney, Eli Lilly, and others. Oil prices are edging up as Mideast mediators work on a temporary fix for the Strait of Hormuz. The U.S. has indicated that a deal might be near, though continued attacks on shipping and Iran's insistence on collecting fees cast uncertainty over the situation.

The mixed earnings picture highlights the tension between strong revenue performance and investor concerns over strategic decisions and capital allocation. Market participants are watching closely as companies navigate geopolitical risks and technological competition.