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BISHOP'S STORTFORD, ENGLAND - JANUARY 25: Snowfall in the Essex countryside on January 25, 2021 in Bishop's Stortford, Essex, United Kingdom.
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Stocks lose steam after in-line January inflation report

Most Mag 7 stocks declined, but the Russell 2000 outperformed, rising 1.2%.

Tasha Matsumoto

Stocks bounced higher after this morning’s January core CPI inflation didn’t have any grim surprises, but the rally fizzled out in late afternoon trading. The S&P 500 barely eked out a gain and the Nasdaq 100 rose, while the Russell 2000 outperformed, rising 1.2%. All three indexes posted weekly losses. bitcoin staged a relief rally.

Tech continued to struggle, with all Magnificent 7 stocks declining except for Tesla.

Stocks that moved higher:

Stocks that moved lower:

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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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