Tech stocks today: Investors eye SpaceX's first earnings report

Tech stocks rose in early trading Monday as investors await SpaceX's first-ever quarterly earnings report after the bell on Tuesday, with the company's stock down nearly 30% from its $150 debut price. AMD will also report results Tuesday, providing insight into the AI chip market, while Amazon's market cap topped $3 trillion for the first time.

Tech stocks rose in early trading Monday, as Wall Street prepares on SpaceX's SPCX https://finance.yahoo.com/quote/SPCX/ first-ever quarterly earnings report after the bell on Tuesday. The space and AI company's stock has fallen nearly 30% from its $150 debut price, and investors are looking for any catalysts that could help turn things around. AMD AMD https://finance.yahoo.com/quote/AMD/ will also report its results after the bell on Tuesday, providing a better look into the state of the AI chip market. Rival Intel INTC https://finance.yahoo.com/quote/INTC/ announced its earnings last month, topping analysts' estimates on the top and bottom lines and issuing better-than-anticipated guidance for the current quarter. Nvidia will report its results Aug. 26. Elsewhere, Amazon's AMZN https://finance.yahoo.com/quote/AMZN/ market cap topped $3 trillion for the first time on Monday, and Microsoft MSFT https://finance.yahoo.com/quote/MSFT/ stock continued to climb higher, after posting strong earnings results last week.