markets

Nia Warfield7/17/25

Albemarle soars as Chinese mining giant Zangge orders surprise halt on lithium production

Albemarle Corp. shares surged nearly 8% Thursday, leading the S&P 500, after lithium prices jumped on news that China’s Zangge Mining was forced to halt production.

The Charlotte-based chemical manufacturing company is the world’s most valuable publicly traded lithium producer with mines across North America, Chile, and Australia. On Thursday, local officials in Qinghai province ordered the suspension over unspecified compliance issues, putting a stop to operations expected to pump out 11,000 metric tons of lithium carbonate this year.

The news sparked a rally across the sector, with lithium futures hitting a three-month high and stocks like Sigma Lithium and Sociedad Quimica y Minera also rallying. Zangge, which is majority owned by Zijin Mining, said there’s no timeline yet for restarting production, adding uncertainty to a market that’s already dealing with supply pressures.

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markets

J. Edward Moreno7/7/26

SpaceX gets a wave of bullish ratings from Wall Street analysts

SpaceX received more than a dozen positive analyst calls on Tuesday — including from major Wall Street banks — as they initiate coverage on Elon Musk’s space and AI company.

SpaceX went public on June 12 at a $2.2 trillion valuation, the largest debut in history. While the company hasn’t yet posted a profit, it seems to have convinced Wall Street that it will get there and grow its valuation on the way.

Of the at least 17 analysts that gave a rating on Tuesday, all but one gave it a “buy” or “outperform” rating. MoffettNathanson was "neutral."

The ratings come as SpaceX joined the Nasdaq 100 index, a benchmark tech-heavy basket of companies that underpins millions of portfolios. The inclusion adds built-in demand for the stock from index funds and ETFs.

Still, SpaceX fell more than 5% on Tuesday amid a broader sell-off, and is currently effectively flat from its opening price of $150 a share.

US job growth falls far short of estimates in June; unemployment rate unexpectedly dips to 4.2%

Job growth was 57,000. Analysts foresaw job growth of 113,000; prediction markets were more optimistic, looking for job growth above 125,000 but below 150,000.

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Meta surges on report it’s starting a cloud business to sell excess AI compute

The story of the hyperscalers in 2026 has largely been “the beatings will continue until the cash flow outlook improves;” this could help change the story for Meta. Or not.

Meta CEO Mark Zuckerberg visits U.S. Capitol for Senate meetings

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