markets

Luke Kawa12/10/25

It’s cyclicals over speculation ahead of the Fed meeting

“Sell your high-flying winners and speculative stocks ahead of the Fed, but the US economy is fine” seems to be the market narrative du jour.

The likes of Bloom Energy, IREN, Opendoor Technologies, Rigetti Computing, IonQ, and Oklo all fell at least 2.5% in early trading. Meanwhile, a Goldman Sachs basket that tracks the performance of cyclical stocks relative to more defensive companies is working on its ninth straight day of gains, which would be its longest winning streak since 2017. The SPDR S&P Regional Banking ETF, another very economically relevant part of the market, is also trading to the upside.

Goldman Sachs’ index of high-beta momentum longs (that is, stocks that have been trending higher) is down about 1.5% in early trading, while the opposite group, high-beta momentum shorts, is enjoying a nice bounce.

In other words, it looks like traders are taking down some risk in volatile long/short trades ahead of the US central bank’s final meeting of the year amid fears of a so-called “hawkish cut.” Speculative stocks, and in particular small-caps, had been buoyed by the resumption of rate cuts this year.

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Meet the newly public, Bezos-backed company that’s recreating the sun and stars

General Fusion CEO Greg Twinney spoke with Sherwood News from the Nasdaq during the stock’s first day of trading.

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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.

Floridians Seek Employment Opportunities At Job Fair In Sunrise

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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