Luke Kawa7/31/24

US stocks post huge rally; semis surge by most in over a year

The S&P 500 rose 1.7%, the Nasdaq 100 gained 3%, and the Russell 2000 ended up 0.9% as a bounce back in beleaguered semiconductors and enhanced confidence the Federal Reserve would begin cutting rates in September buoyed stocks.

Tech stocks ran wild, with the S&P sector ETF up 4.2% for its best day of the year. There was one notable exception, however: Microsoft, the most valuable publicly traded company, fell 1% after gains from its AI investments didn’t offset the slowdown in growth for its cloud services business.

It’s the first time Microsoft fell 1% while the Nasdaq 100 gained 3% since January 2002.

Nvidia led the way with a 12.9% increase, and oddly enough, Microsoft was part of the reason why. In its earnings call, management affirmed their commitment to keep plowing billions of dollars into AI investments, supporting demand for Nvidia’s chips. Broadcom wasn’t too far behind with a 12% move higher.

The VanEck Semiconductor ETF spiked 7.6%, its best session in more than a year.

Elsewhere, shares of Match surged 13.2% as its quarterly earnings exceeded expectations despite seeing paid users decline.

West Texas Intermediate crude oil futures had their biggest rise of 2024, up 4.9% after Israel reportedly killed the political leader of Hamas on Iranian soil and Iran vowed retribution.

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

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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.

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Paige Oamek6/30/26

Nike sinks to lowest level since 2014 after warning of “challenged” sales environment in Q4 report

Did Nike do it?

Investors had a mixed reaction after the global sports apparel company reported its fourth quarter earnings on Tuesday after the bell. Shares initially rose 5% as Nike beat out Wall Street expectations amid a hefty tariff refund bonus. However, the stock then sank to its lowest level since August 2014 in postmarket trading.

Here are the Q4 numbers:

Revenue of $11.0 billion (estimate: $10.8 billion).
Adjusted earnings per share of $0.20 (estimate: $0.12).

Ahead of this report, Nike warned that results would be flattered by a one-time tariff refund (now estimated at roughly $0.52 per share for the bottom line). That gave the company an extra cushion in snapping its streak of seven quarters of year-over-year profit declines.

Over the past year, the company had been punished by tariffs on imported goods, stagnant consumer spending, and increasing competition from other footwear brands like New Balance, Adidas, and Hoka.

Outgoing CFO Matthew Friend deemed it an “increasingly challenging operating environment, where sell-through remains challenged.”

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