markets

Claire Yubin Oh12/1/25

Korean e-commerce giant Coupang drops after massive data breach

Leading Korean retailer Coupang is down 9% after details of a breach of personal information from 33.7 million accounts came to light — one of the widest hacks on record for the country of some 52 million people.

“We sincerely apologize once again for causing our customers inconvenience,” CEO Park Dae-jun said in a statement. The company, dubbed the Amazon of South Korea, said on Saturday that the breach was only detected on November 18, but that it started as early as June 24, exposing customers’ names, email addresses, shipping addresses, phone numbers, and certain order details but not payment details or login credentials.

The Ministry of Science and ICT said in a statement on Sunday that it has formed a joint investigation team to analyze the cause of the incident after Coupang reported two breach cases on November 20 and 29. A Chinese national who previously worked at the company reportedly hacked the system, per Yonhap News, though that particular claim is unverified at this point.

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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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