Markets
markets
Luke Kawa

Nvidia is plummeting right after setting an all-time high

The spirited rally that propelled shares of Nvidia upward by double digits in the first three sessions of 2025 has been more than halved on Tuesday morning. The stock opened up 2.5% at a record high of $153.13, surpassing the prior peak of $152.89 on November 21, the session following its latest earnings report.

Since then, it’s gone straight down, off more than 5% as of 11:05 a.m. ET, on track for its largest daily loss since September and barely above its 50-day moving average. There’s no clear catalyst to explain the dump. Other stocks in the industry like Micron, Applied Materials, and Qualcomm are all off their daily highs, but still maintaining gains for the session.

Nvidia’s put-call ratio, which hit its lowest level since December 2021 on Monday ahead of CEO Jensen Huang’s keynote address, is creeping higher as of 10:50 a.m. but still well below levels that prevailed for much of the past three years.

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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%

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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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