Oil spikes to three-month high, sending energy stocks higher

Oil prices surged more than 4%, with Brent front-month futures breaking above $80 per barrel for the first time since October and West Texas Intermediate prices also at a three-month high.

Energy is far and away the best-performing S&P 500 sector ETF as of 10:00 a.m. ET on Friday, up more than 1%. Noteworthy gainers include Exxon, Devon Energy, and EOG Resources.

The price spike comes amid a report from Reuters that the US is planning more sanctions against Russian oil that would disrupt flows to the Indian and Chinese markets.

Russia’s 2022 invasion of Ukraine caused immense upheaval in global energy markets. One side effect was that Indian imports from Russia surged, as the country’s refineries effectively became a work-around to process crude that was off-limits to much of the world.

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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.

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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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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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