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CHICAGO, IL - JANUARY 14: Benny, the mascot for the Chicago Bulls, performs during a break between the Bulls and the New Orleans Pelicans at the United Center on January 14, 2017 in Chicago, Illinois.
(Jonathan Daniel/Getty Images)

S&P 500 snaps losing streak, buoyed by chip stocks

The AI trade was back on as traders dove headlong into a “new year, same AI-fueled rally” thesis.

Tasha Matsumoto, Luke Kawa

After a bit of whipsawing, the S&P 500 broke its four-day losing streak. The Nasdaq 100, however, posted a loss, while the Russell 2000 outperformed, climbing over 1%. Energy was the best-performing sector, continuing its rise.

Cryptocurrencies rose as Bitcoin rallied and meme coins Pepe, Dogecoin, and shiba inu jumped.

Stocks that moved higher:

Stocks that moved lower:

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Credit markets have a “debt” problem, not a “risk” problem

We’re getting a lot of borrowing, and that borrowing is risk-reducing (for now!)

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7/13/26
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.

Web Summit Vancouver 2026 - Day Three
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J. Edward Moreno

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.

Luke Kawa
7/2/26
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
Luke Kawa
7/1/26
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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