After the US markets’ stunning surge, the stage looked set for Elon Musk’s latest hype machine. But it all fell flat.

The US stock market jumped to records as companies kept piling up profits and oil prices eased, while SpaceX released its first set of earnings since listing.

The US stock market jumped to records as companies kept piling up profits and oil prices eased, while SpaceX released its first set of earnings since listing.