Interactive Brokers to join S&P 500

Options trading shop Interactive Brokers rose early Tuesday after being tapped to join the S&P 500, replacing Walgreens Boots Alliance prior to the open of trading on Thursday. (Walgreens Boots is in the process of being bought by private equity.)

Retail favorite Robinhood Markets, which for months has been bandied about as a potential candidate for inclusion in the blue-chip index, slipped slightly after not getting the nod.

(Robinhood Markets Inc. is the parent company of Sherwood Media, an independently operated media company subject to certain legal and regulatory restrictions. I own Robinhood stock as part of my compensation.)

Interactive Brokers Stock Jumps. It’s Joining the S&P 500 This Week.

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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.

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