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Update: Equities Rise as SpaceX Soars; Wall Street Logs Weekly Gain Amid Iran Deal Optimism

(Updates with market moves at the end of the day.)US equities advanced Friday to lock in a weekly gain for Wall Street as Space Exploration Technologies' (SPCX) blockbuster debut and a potential Middle East peace deal buoyed sentiment.The Dow Jones Industrial Average closed 0.7% higher at 51,202.3, while the S&P 500 rose 0.4% to 7,431.4. The Nasdaq Composite added 0.3% to 25,888.8. Barring healthcare, all sectors ended in the green, led by materials.SpaceX -- Elon Musk's rocket and satellite company -- ended its first trading day 19% above its initial public offering price of $135. The rally pushed the company's market capitalization above $2 trillion, placing it among the 10 most valuable public companies in the US, even more valuable than Musk's electric vehicle maker, Tesla (TSLA).The three major Wall Street indexes posted a weekly gain of 0.7% each, rebounding after last week's declines."It was a dizzying week in financial markets," Sal Guatieri, senior economist at BMO Capital Markets, said in a report. "After closing above 7,600 for the first time ever on June 2, the S&P 500 was headed for a second weekly decline, until Thursday afternoon. That's when President (Donald) Trump called off plans to strike Iran "very hard" as a potential peace deal emerged, with hopes of both sides signing off in Geneva this weekend.""Investor spirits were also stoked by the world's largest initial public offering, SpaceX, which blasted off on Friday," Guatieri said.West Texas Intermediate crude oil was down 3.9% at $84.30 a barrel in Friday late-afternoon trade, while Brent fell 4% to $86.79. The benchmarks were headed for weekly falls after last week's gains.The US and Iran are edging closer to an interim agreement to reopen the Strait of Hormuz, Bloomberg News reported Friday, citing senior officials. The agreement would extend the existing ceasefire by around two months and open further negotiations over Iran's nuclear program, according to the report.Pakistani Prime Minister Shehbaz Sharif said Friday that "final" text of a peace deal has been reached."Pakistan is now working closely with both sides to finalize the next steps," Sharif said in a social media post Friday. "Peace has never been this close as it is now."US Treasury yields were higher, with the 10-year rate last up 1.5 basis points at 4.49% and the two-year rate rising 1.9 basis points to 4.09%.In economic news, US consumer sentiment rebounded in June as gasoline prices eased, while the inflation outlook dropped, the University of Michigan's latest survey showed."Sentiment and spending have become disconnected," Oxford Economics said in a note. "Still, higher gas prices will take a bite out of consumers' real disposable incomes, forcing them to reel in spending."In other company news, Adobe (ADBE) shares fell 6.8%, the second-steepest drop on the S&P 500. The software maker reported solid quarterly results that were overshadowed by the departure of its finance chief and lingering questions about the company's growth trajectory, RBC Capital Markets said in a note.Lennar (LEN) dropped 4.9%, among the worst performers on the S&P 500, as the homebuilder issued a downbeat fiscal third-quarter home delivery outlook.Gold was last up 2.9% at $4,231,10 per troy ounce, while silver jumped 6.1% to $67.90 per ounce.

Dow JonesNasdaq CompositeS&P 500$ADBE$LEN$SPCX$TSLA

Wire2d ago

Update: Equities Rise Intraday Amid SpaceX's Blockbuster Debut, US-Iran Deal Prospects

(Updates with latest market prices and developments.)US benchmark equity indexes were higher intraday as Space Exploration Technologies (SPCX) rallied on its market debut, while oil prices fell as traders tracked reports of a potential deal between Washington and Iran.The Dow Jones Industrial Average was up 0.8% at 51,260.8 after midday Friday, while the S&P 500 rose 0.6% to 7,436.6. The Nasdaq Composite added 0.5% to 25,930.1. Barring consumer discretionary and healthcare, all sectors were in the green, led by materials.SpaceX -- Elon Musk's rocket and satellite company -- opened trade at $150 and moved as high as $176.52, after having priced its initial public offering at $135. The rally pushed the company's market capitalization above $2 trillion, placing it among the 10 most valuable public companies in the US, even more valuable than Musk's electric vehicle maker, Tesla (TSLA).The IPO drew more than $350 billion in orders from institutions and retail investors, with the former accounting for over $250 billion, Bloomberg News reported, citing unnamed sources. The IPO, which would raise a record $75 billion, is expected to close Monday.West Texas Intermediate crude oil was down 3.4% at $84.67 a barrel intraday Friday, while Brent fell 3.5% to $87.20.The US and Iran are edging closer to an interim agreement to reopen the Strait of Hormuz, Bloomberg News reported Friday, citing senior officials. The agreement would extend the existing ceasefire by around two months and open further negotiations over Iran's nuclear program, according to the report."We can confirm that a final, agreed upon text of the peace deal has been reached, and Pakistan is now working closely with both sides to finalize the next steps," Pakistani Prime Minister Shehbaz Sharif said in a social media post Friday. "Peace has never been this close as it is now.""Unlike previous (potential US-Iran deal) announcements that were met with considerable skepticism, markets this time appear increasingly willing to price in a meaningful probability of success," Saxo Bank said in a report.US Treasury yields were higher intraday, with the 10-year rate up 1.4 basis points at 4.48% and the two-year rate rising one basis point to 4.08%.In economic news, US consumer sentiment rebounded in June as gasoline prices eased, while the inflation outlook dropped, the University of Michigan's latest survey showed."Sentiment and spending have become disconnected," Oxford Economics said in a note. "Still, higher gas prices will take a bite out of consumers' real disposable incomes, forcing them to reel in spending."In other company news, Adobe (ADBE) shares were down 7.2% intraday, the second-steepest drop on the S&P 500. The software maker reported solid quarterly results that were overshadowed by the departure of its finance chief and lingering questions about the company's growth trajectory, RBC Capital Markets said in a note.Lennar (LEN) was down 4.3%, among the worst performers on the S&P 500, as the homebuilder issued a downbeat fiscal third-quarter home delivery outlook.Gold was up 3% at $4,237.50 per troy ounce, while silver jumped 6% to $67.86 per ounce.

Dow JonesNasdaq CompositeS&P 500$ADBE$LEN$SPCX$TSLA

Wire2d ago

Update: SpaceX Shares Surge in Nasdaq Debut

(Updates with recent stock movement in first and second paragraph.)Space Exploration Technologies (SPCX), known as SpaceX, shares continued to climb on its first day of Nasdaq trading, rising more than 29% early afternoon Friday in what is poised to be the world's biggest initial public offering.The stock opened at $150, after pricing the IPO at $135 a share. The offering is expected to close Monday, according to a statement released Thursday.The Elon Musk-led rocket and satellite company plans to raise a record $75 billion, targeting a $1.75 trillion valuation, Wedbush Securities said in a note Friday. That would place SpaceX among the 10 most valuable public companies in the US, even more valuable than Musk-led Tesla (TSLA).Wedbush Securities' Dan Ives had said in the note that if the stock trades at $138 per share, Musk officially becomes a trillionaire.SpaceX granted the underwriters a 30-day option to buy up to an additional 83.3 million class A shares at the IPO price.Musk's SpaceX position is worth about $866 billion, according to a Reuters report.Price: $175.12, Change: $+40.12, Percent Change: +29.72%

$SPCX$TSLA

US Markets2d ago

SpaceX Jumps 21% as Blockbuster Debut Pushes Market Valuation Above $2 Trillion

Shares of Space Exploration Technologies (SPCX) were rallying 21% on Friday as Elon Musk's rocket and satellite company debuted on the Nasdaq in what is poised to be the world's biggest initial public offering ever.SpaceX, which the company is widely known as, opened trade at $150 and moved as high as $168.75, having priced its IPO at $135.Its shares were last trading at $163.21, up 21% from the IPO price.The rally pushed SpaceX above a $2 trillion market capitalization, placing it among the 10 most valuable public companies in the US, even more valuable than Musk-led Tesla (TSLA).The IPO, which would raise a record $75 billion, is expected to close on Monday, according to a company statement released Thursday. SpaceX granted the underwriters a 30-day option to buy up to an additional 83.3 million class A shares at the IPO price.The IPO drew more than $350 billion in orders from institutions and retail investors, with the former accounting for over $250 billion, Bloomberg News reported Friday, citing people familiar with the matter.BlackRock (BLK) had placed an order to buy at least $5 billion worth of SpaceX shares, The Wall Street Journal reported Thursday, citing people familiar with the matter.Investor excitement ahead of the SpaceX IPO seemed to have caused a stir in the market, Wedbush Securities said in a note on Friday."We have already started to see SpaceX impact the entire (technology) market with many investors selling existing tech stocks to make strategic bets on the SpaceX IPO," Wedbush analyst Dan Ives wrote. "We also believe the SpaceX anticipation has caused some added volatility in the market especially in the tech sector as traders/investors anticipate the ripple impact of this historical IPO."The listing makes Musk the world's first trillionaire, Reuters reported.Price: $162.83, Change: $+27.83, Percent Change: +20.61%

$BLK$SPCX$TSLA

Wire2d ago

SpaceX Surges 19% in Nasdaq Debut

Shares of Elon Musk's SpaceX (SPCX) rallied 19% on Friday as the rocket and satellite company debuted on the Nasdaq in what is poised to be the world's biggest initial public offering.Space Exploration Technologies, widely known as SpaceX, opened trading at $150, after pricing the IPO at $135. The offering is expected to close on Monday, according to a company statement released Thursday.It plans to raise a record $75 billion, targeting a $1.75 trillion valuation, Wedbush Securities said in a note on Friday. That would place SpaceX among the 10 most valuable public companies in the US, even more valuable than Musk-led Tesla (TSLA).SpaceX granted the underwriters a 30-day option to buy up to an additional 83.3 million class A shares at the IPO price.Musk's SpaceX position is worth about $866 billion, according to a Reuters report.If the stock trades at $138 per share, Musk officially becomes a trillionaire, Wedbush's Dan Ives said.Price: $168.00, Change: $+33.00, Percent Change: +24.44%

$BLK$SPCX$TSLA

Wire2d ago

General Motors' 'Underappreciated' Energy Storage Business Offers Upside, RBC Says

General Motors' (GM) energy storage business is underappreciated by investors, while its US tariff exposure is improving, creating potential upside to earnings and valuation, RBC Capital Markets said in a note emailed Friday.The analysts said that since Ford (F) unveiled its energy storage strategy in May, its shares have significantly outperformed General Motors', despite General Motors announcing its own battery energy storage system plans in June. This suggests investors may not yet be fully recognizing the earnings potential of the company's energy initiatives, the firm noted.If the company can find success with sodium-ion batteries as a vertically integrated offering, similar to Tesla (TSLA) or Ford, as opposed to an off-take agreement like it is doing with its lithium iron phosphate cells, this business could be a key catalyst for multiple-re-rating, the analysts added.Channel checks suggest General Motors' US tariff outlook is improving, the analysts said, adding that a reduction in Mexico tariffs from 25% to 15% could lower the company's estimated $3 billion tariff burden by about $500 million, while eliminating tariffs altogether could reduce it by roughly $1 billion.RBC has an outperform rating and a $95 price target on General Motors.Price: $80.89, Change: $+0.04, Percent Change: +0.04%

$F$GM$TSLA

US Markets3d ago

Stocks Rise Pre-Bell Amid Media Reports of US-Iran Peace Deal Progress

The benchmark US stock measures were pointing higher before the open Friday amid media reports that the US and Iran are nearing a peace deal, while investors prepare for SpaceX's (SPCX) market debut.The S&P 500 rose 0.4%, the Dow Jones Industrial Average increased 0.6% and the Nasdaq added 0.2% in premarket activity. All three indexes finished the previous trading session with their biggest one-day percentage gains since April 8.The US and Iran are nearing a tentative peace deal, with a potential signing possibly coming as soon as Sunday, Bloomberg News reported, citing people familiar with the matter. Iranian state media reported a draft of the deal included a commitment from Washington to lift oil sanctions on Tehran, while Iran would agree to reopen the Strait of Hormuz within 30 days, according to CNBC.In a social media post on Thursday, President Donald Trump said he cancelled scheduled strikes and bombings against Iran after talks with Tehran were brought to the "highest level" of Iranian leadership and "approved.""Discussions and final points have been, in both concept and great detail, approved by all parties involved, including the US, Israel, Saudi Arabia, UAE, Qatar, Turkey, Pakistan, Bahrain, Kuwait, Jordan, Egypt, and others," according to Trump. "The naval blockade will remain in full force and effect until this transaction is finalized."West Texas Intermediate crude oil dropped 3.2% to $84.95 a barrel before the opening bell, while Brent declined 3.1% to $87.62.The Organization of the Petroleum Exporting Countries lowered its global oil demand growth forecast for this year, but raised its expectations for 2027.Space Exploration Technologies, widely known as SpaceX, on Thursday priced its initial public offering at about $135 per share for 555.6 million Class A shares, raising gross proceeds of nearly $75 billion.The company is scheduled to begin trading Friday.US producer prices rose more than projected in May, matching the previous month's pace, while the annual increase reached the highest since late 2022 amid surging energy costs, government data showed Thursday. Earlier in the week, consumer price data showed inflation accelerating to the fastest pace in about three years last month.Treasury yields were down in premarket action, with the two-year rate retreating 1.2 basis points to 4.06%, while the 10-year rate was off 0.8 basis points to 4.46%.Friday's economic calendar also has the preliminary University of Michigan consumer sentiment report for June at 10 am ET, while the weekly Baker Hughes oil-and-gas rig count is out at 1 pm.Shares of Adobe (ADBE) fell 6.4% pre-bell after the software maker reported its latest quarterly results and announced the departure of its Chief Financial Officer Dan Durn. Lennar (LEN) decreased 2.4% as the homebuilder issued a downbeat fiscal third-quarter home delivery outlook.Gold advanced 3% to $4,236 per troy ounce, while bitcoin was slightly in the green at $63,620.

Dow JonesNasdaq CompositeS&P 500$ADBE$LEN$SPCX$TSLA

Equities3d ago

Social Buzz: Wallstreetbets Stocks Mixed Premarket Friday; AST SpaceMobile to Advance, Adobe to Decline

The most-talked-about stocks in the Reddit subforum Wallstreetbets were mixed hours before Friday's opening bell.AST SpaceMobile (ASTS) rose by 3.9% premarket, after an 11.7% rise from the previous session.Microsoft (MSFT) was up 0.6% hours before market open, swinging from a 1.8% decline at Thursday's close.Nvidia (NVDA) was 0.5% higher in pre-bell activity, after a 2.2% increase from Thursday's session.Sandisk (SNDK) advanced by 0.4% pre-bell, after a 14.5% rise at Thursday's close.Tesla (TSLA) was up 0.3% premarket, following a 4.6% increase at Thursday's close.DTE Energy (DTE) was marginally higher in premarket hours, following a 0.2% decline from Thursday's session.Adobe (ADBE) was 6.5% lower premarket, following a 6.3% fall from the previous session.Micron Technology (MU) declined by 1.3% premarket, after closing Thursday with an 11.7% increase.

$ADBE$ASTS$DTE$MSFT$MU$NVDA$SNDK$TSLA

Asia Markets3d ago

Update: US Equity Futures Rise Pre-Bell After US Says Strikes Completed Against Iran

(Updates with economic data, recent oil price movement, world markets' overview and corporate stock movements.)US equity futures were higher pre-bell Thursday as the US said it completed attacks against Iran after another round of "self-defense strikes."Dow Jones Industrial Average futures were 0.5% higher, S&P 500 futures were up 0.4%, and Nasdaq futures were 0.7% higher.The strikes, which started after a US Army Apache helicopter was shot down on Wednesday, were conducted at the direction of President Donald Trump, US Central Command said in an X post. Iran responded with attacks on Kuwait and Bahrain, while Israel warned of launches from Lebanon.Trump later told Fox News that he had spoken directly with Iranian officials, who had asked him to stop bombing.Traders watched the latest round of earnings, with Oracle (ORCL) posting higher fiscal Q4 adjusted earnings and revenue.Oil prices were higher, with front-month global benchmark North Sea Brent crude up 0.5% at $93.52 per barrel and US West Texas Intermediate crude 0.7% higher at $90.66 per barrel.The US Producer Price Index, released at 8:30 am ET, rose by 1.1% in May following a similar increase in April, above the 0.7% gain expected in a survey compiled by Bloomberg. The weekly jobless claims bulletin showed 229,000 new unemployment claims for the week ended June 6, compared with the 225,000 in the prior week and above the 220,000 expected.In other world markets, Japan's Nikkei closed 0.1% higher, Hong Kong's Hang Seng ended 0.7% lower, and China's Shanghai Composite finished 0.2% lower. Meanwhile, the UK's FTSE 100 was up 0.6%, and Germany's DAX index was 0.2% higher in Europe's early afternoon session.In equities, Oracle stock was down 11% after the company said it plans to raise about $40 billion via debt and equity issuances in fiscal 2027, including its previously announced $20 billion stock sale. Alibaba (BABA) and JD.com (JD) shares fell 4.5% and 2.3%, respectively, following media reports of complaints by Chinese regulators over allegedly misleading promotions.On the winning side, Tesla's (TSLA) stock was up 0.9% after Belgian government official Annick De Ridder said that the company's full self-driving technology has been approved in the country. Applied Materials (AMAT) shares rose 4.2% after the company said it has expanded its manufacturing and R&D operations in Singapore with a $500 million facility in Tampines to support AI-driven semiconductor demand. Novartis (NVS) stock was up 2.4% after the company said the phase I/II study of its experimental therapy, del-brax, met both primary and key secondary endpoints in patients with facioscapulohumeral muscular dystrophy.

Dow JonesNasdaq CompositeS&P 500$AMAT$BABA$JD$NVS$ORCL$TSLA

Sectors3d ago

Sector Update: Consumer Stocks Mixed Pre-Bell Thursday

Consumer stocks were mixed premarket Thursday, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) retreating 0.1% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) gaining 0.8%.Tesla (TSLA) shares were up more than 1% pre-bell after Annick De Ridder, the Flemish Minister of Mobility, Public Works, Ports, and Sport, said in an X post that the EV maker's full self-driving technology has been approved in Belgium.Alibaba (BABA) shares fell more than 4% after Bloomberg reported that the company has replaced the head of its AI-chat app, Dingtalk, in a leadership change after an insider debate regarding the productivity platform's role in the broader AI strategy of the e-commerce colossus.McGraw Hill (MH) stock declined more than 6% premarket after the company reported lower fiscal Q4 revenue.

$BABA$MH$TSLA$XLP$XLY

Commodities3d ago

Exchange-Traded Funds, Equity Futures Higher Pre-Bell Thursday Amid US Attacks on Iran

The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was up 0.3% and the actively traded Invesco QQQ Trust (QQQ) advanced 0.6% in Thursday's premarket activity, amid US attacks on Iran and ahead of economic data.US stock futures were also higher, with S&P 500 Index futures up 0.4%, Dow Jones Industrial Average futures advancing 0.5%, and Nasdaq futures gaining 0.8% before the start of regular trading.May's producer price index, a measure of wholesale prices, and the weekly jobless claims bulletin are scheduled to be released at 8:30 am ET.Weekly natural gas stocks post at 10:30 am ET.In premarket action, bitcoin was up by 3%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 1.9% higher, Ether ETF (EETH) advanced 1.9%, and Bitcoin & Ether Market Cap Weight ETF (BETH) retreated by 0.1%.Power Play:IndustrialThe State Street Industrial Select Sector SPDR ETF (XLI) advanced 1.4% and the Vanguard Industrials Index Fund (VIS) added 0.3%, while the iShares US Industrials ETF (IYJ) was 0.6% lower.PureCycle Technologies (PCT) stock was down more than 16% before the opening bell after the company priced simultaneous public offerings of debt and equity to generate $395 million in total gross proceeds.Winners and Losers:TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) and the iShares US Technology ETF (IYW) advanced 1.4% each, while the iShares Expanded Tech Sector ETF (IGM) was up 1.5%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) increased by 3.2%, while the iShares Semiconductor ETF (SOXX) rose by 3%.Oracle (ORCL) shares were down more than 10% in premarket activity as the cloud computing company announced plans to raise about $40 billion via debt and equity issuances in fiscal 2027, including its previously announced $20 billion stock sale.FinancialThe State Street Financial Select Sector SPDR ETF (XLF) advanced 0.4%. Direxion Daily Financial Bull 3X Shares (FAS) was up 1.8%, while its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), was 1.7% lower.WisdomTree (WT) shares were down more than 5% pre-bell, continuing from a 1.9% fall in the previous session. The company reported higher assets under management and net inflows for May.HealthcareThe State Street Health Care Select Sector SPDR ETF (XLV) advanced 0.1%, the Vanguard Health Care Index Fund (VHT) was down 0.5%, while the iShares US Healthcare ETF (IYH) was inactive. The iShares Biotechnology ETF (IBB) was 0.9% higher.Novartis (NVS) stock was up more than 2% premarket after the company said a phase 1/2 study of its experimental therapy, del-brax, met both primary and key secondary endpoints in patients with facioscapulohumeral muscular dystrophy.EnergyThe iShares US Energy ETF (IYE) advanced 0.02%, while the State Street Energy Select Sector SPDR ETF (XLE) was up by 1%.BP (BP) stock was up more than 2% before market open a day after the company said its Whiting refinery team held a 63rd formal bargaining meeting with the United Steelworkers Local 7-1 committee to discuss a new labor contract.ConsumerThe State Street Consumer Staples Select Sector SPDR ETF (XLP) was down 0.2%, and the Vanguard Consumer Staples Index Fund ETF Shares (VDC) retreated by 0.01%. The iShares US Consumer Staples ETF (IYK) fell by 0.7%. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) gained 0.3%. The VanEck Retail ETF (RTH) was inactive, while the State Street SPDR S&P Retail ETF (XRT) rose by 0.8%.Tesla (TSLA) shares were up nearly 1% pre-bell after Annick De Ridder, Flemish Minister of Mobility, Public Works, Ports, and Sport, said in an X post that the EV maker's full self-driving technology has been approved in Belgium.CommoditiesFront-month US West Texas Intermediate crude oil rose 0.9% to $90.83 per barrel on the New York Mercantile Exchange. Natural gas was down 1.5% at $3.14 per 1 million British Thermal Units. The United States Oil Fund (USO) rose 0.4%, while the United States Natural Gas Fund (UNG) was 1.2% lower.Gold futures for July retreated by 0.7% to $4,105.70 an ounce on the Comex. Silver futures declined by 1.3% to $63.87 an ounce. SPDR Gold Shares (GLD) was up by 0.04%, and the iShares Silver Trust (SLV) decreased by 0.2%.

Dow JonesNasdaq CompositeS&P 500$BETH$BITO$BP$EEM$EETH$EXI$FAS$FAZ$GLD$IBB$IGM$IGV$IPK$IVV$IWM$IYE$IYH$IYJ$IYK$IYW$NVS$ORCL$PCT$PMR$QQQ$RTH$SLV$SOXX$SPY$TSLA$UNG$USO$VDC$VHT$VIS$WT$XLE$XLF$XLI$XLK$XLP$XLV$XLY$XRT$XSD

Sectors4d ago

Sector Update: Consumer

$TSLA$XLP$XLY

Insider Trading5d ago

Tesla Insider Sold Shares Worth $1,047,924, According to a Recent SEC Filing

Vaibhav Taneja, Chief Financial Officer, on June 05, 2026, sold 2,606 shares in Tesla (TSLA) for $1,047,924. Following the Form 4 filing with the SEC, Taneja has control over a total of 133,039 common shares of the company, with 22,039 shares held directly and 111,000 controlled indirectly.SEC Filing:https://www.sec.gov/Archives/edgar/data/1318605/000110465926071970/xslF345X05/tm2617365-1_4seq1.xml

$TSLA

Asia Markets9d ago

US Equity Indexes Slump This Week as Fed Rate Increase Expectations Sink Big Tech, Iran Demands Frozen Assets

US equity indexes dropped this week as big tech tumbled after strong jobs data boosted the odds for monetary policy tightening, while Iran linked the release of billions of dollars of frozen assets to a peace deal with Washington.* The S&P 500 closed at 7,383.59 on Friday versus 7,580.06 a week ago. The Nasdaq Composite stood at about 25,709.43, compared with 26,972.62 a week earlier. The Dow Jones Industrial Average ended at 50,866.78, versus 51,032.46 at the end of last week.* Consumer cyclical, communication services, and technology were among the worst five sectors this week. Amazon.com (AMZN), Tesla (TSLA), and Microsoft (MSFT) were among the bottom 10 companies with a market capitalization of more than $200 billion this week, according to data compiled by Finviz.* Nonfarm payrolls rose by 172,000 in May, above the 88,000 jobs increase expected in a Bloomberg-compiled survey, while April payrolls were revised upwards to a 179,000 increase and March payrolls were revised higher to a 214,000 gain, for a net upward revision of 93,000 jobs.* US job openings rose to 7.618 million in April, above the 6.866 million consensus.* The probability of a 25 basis-point increase in interest rates in December surged to 43%, from 36% a week ago, according to the CME FedWatch tool. The comparisons for September were 34% versus 20%, and, for October, the data showed an increase to 40% from 25%.* A potential peace deal between the US and Iran hinges on US President Donald Trump's administration agreeing to release $24 billion in frozen Iranian assets, Mohsen Rezaei, military adviser to Supreme Leader Ayatollah Mojtaba Khamenei, told CNN from Tehran, warning that the US would "enter into a dark corridor" should it resume fighting.* "The negotiations are at a deadlock, and Trump must break this deadlock," Rezaei was cited as saying in the news report.

Dow JonesNasdaq CompositeS&P 500$AMZN$MSFT$TSLA

Sectors9d ago

Sector Update: Consumer Stocks Mixed Friday Afternoon

Consumer stocks were mixed Friday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) up 2.1% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) falling 1%.In corporate news, Tesla's (TSLA) competitive edge of deep vertical integration across hardware and software, coupled with its speed of technology development, leaves the firm uniquely positioned to scale emerging AI-driven markets, JPMorgan Securities said in a note. Tesla shares fell 5%.Brown-Forman (BF.A, BF.B) delivered better-than-expected Q4 revenue, but continues to face weak demand in key developed markets and mounting cost pressures that could weigh on growth and margins in fiscal 2027, RBC said. Brown-Forman Class A shares rose 0.7%, and Class B shares advanced 1.6%.Abercrombie & Fitch (ANF) said Friday it is opening a store in the SoHo district of New York. Abercrombie shares were down 2.1%.

$ANF$BF.A$BF.B$TSLA

Wire9d ago

Tesla Uniquely Positioned to Scale Emerging AI Markets, J.P. Morgan Says

Tesla's (TSLA) competitive edge of deep vertical integration across hardware and software, coupled with its speed of technology development, leaves the company uniquely positioned to scale emerging artificial intelligence-driven markets, J.P. Morgan Securities said in a Friday note.The brokerage said deploying Optimus humanoid robots in Tesla's own factories should help lower automotive manufacturing costs while validating the technology at an industrial scale. It estimates the humanoid robot market could reach about 5 million units in the US and 30 million globally by 2040.J.P. Morgan also highlighted Tesla's robotaxi opportunity and noted that the company has recorded about 10 billion miles of driving data and has roughly 9 million vehicles on the road today.The investment firm said expanding autonomous vehicle operations should create network effects that support both robotaxi and Full Self-Driving adoption. It projects about 35 million personally owned Tesla vehicles and 40 million Tesla robotaxis by 2040.Tesla's energy storage business is positioned to benefit from data center construction and grid stability demand. J.P. Morgan said the company's infrastructure could also generate value through Full Self-Driving and Optimus software licensing, distributed inference, Cortex compute and supercharger usage.J.P. Morgan upgraded the company's stock rating to neutral from underweight and adjusted the price target to $475 from $145.Price: $405.77, Change: $-12.68, Percent Change: -3.03%

$TSLA

Research9d ago

Update: JPMorgan Upgrades Tesla to Neutral From Underweight as 'Vertical Integration & Tech Efficacy Unmatched', $475 Price Target

(Updated to include JPMorgan's commentary)JPMorgan upgraded Tesla (TSLA) to neutral from underweight, noting the company's unmatched vertical integration is a "unique advantage."The EV maker is at the forefront of physical AI, entering uncharted TAMs, and its strong execution will be vital to accelerating adoption and increasing the size of these TAMs themselves, analysts led by Rajat Gupta wrote in a Friday note.Tesla has an average rating of overweight and mean price target of $400.22, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)Price: $406.60, Change: $-11.85, Percent Change: -2.83%

$TSLA

Research9d ago

JPMorgan Upgrades Tesla to Neutral From Underweight, $475 Price Target

Tesla (TSLA) has an average rating of overweight and mean price target of $400.22, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)Price: $413.97, Change: $-4.48, Percent Change: -1.07%

$TSLA

US Markets11d ago

SpaceX Targets $75 Billion Capital Raise in Blockbuster IPO

Space Exploration Technologies, widely known as SpaceX, is seeking to raise about $75 billion in what could be the largest initial public offering of all time.The rocket and satellite company, founded and led by Tesla (TSLA) Chief Executive Elon Musk, plans to issue about 555.6 million of its class A stock at $135 per share, according to a prospectus filed with the Securities and Exchange Commission on Wednesday. That would bring in $75 billion in proceeds, the most ever for a public stock sale.These terms would value SpaceX at $1.75 trillion, placing it among the 10 most valuable public companies in the US, Reuters reported.Earlier in the week, AI chatbot Claude maker Anthropic confidentially filed for an IPO in the US, as ChatGPT parent OpenAI prepares to go public too.SpaceX, which granted underwriters a 30-day option to buy an additional 83.3 million shares, has reserved up to 5% of the IPO stock for "certain employees and persons."The company estimates net proceeds of about $74.4 billion, or $85.7 billion if underwriters fully exercise their over-allotment option, according to the latest filing. SpaceX's class A stock is expected to trade on Nasdaq under the SPCX ticker after the IPO.SpaceX intends to have a dual-class stock structure, with each class A share entitling the holder to a single vote. Class B shareholders will get 10 votes per share.Musk is expected to control about 82% of SpaceX's voting power after the IPO, the filing showed.The company estimates its quantifiable total addressable market at $28.5 trillion across artificial intelligence-related markets, space-enabled solutions and connectivity services. The company, which operates satellite internet service provider Starlink, recently acquired artificial intelligence startup xAI.SpaceX reported a net loss of $1.69 per share in 2025, compared with a breakeven point in 2024. Revenue increased 33% to $18.67 billion in 2025. AI capital expenditures totaled $12.73 billion in 2025 and $7.72 billion in the first quarter of 2026.

$TSLA

Wire12d ago

Market Chatter: UK Using SpaceX's Starshield for Military Operations

The UK's defense ministry began moving operational military traffic to SpaceX's militarized satellite network, Starshield, around the beginning of the year, Reuters reported Tuesday, citing two people familiar with the matter.The defense ministry and SpaceX didn't immediately reply to requests for comment from.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $422.08, Change: $+6.19, Percent Change: +1.49%

$TSLA

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