Markets
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Matt Phillips

Rocket Lab up on US investment plans, government award

Rocket Lab rose Monday after it announced on Friday plans to expand its US manufacturing base to produce parts for sensitive national-security-related missions — a plan that will be supported, in part, by a nearly $24 million award from the Commerce Department.

It’s not a ton of money. But the news feeds into a market narrative that has helped drive shares of Rocket Lab up roughly 600% over the last year and more than 80% since the end of May.

That story is that Rocket Lab stands to be a prime beneficiary of efforts from the US government to diversify away from reliance on Tesla CEO Elon Musk’s SpaceX for national security launch services, especially after the ugly public break between Musk and the president back in June.

Rocket Lab Announces Expanded U.S. Investments for National Security Programs and Semiconductor Manufacturing | Rocket Lab

It’s not a ton of money. But the news feeds into a market narrative that has helped drive shares of Rocket Lab up roughly 600% over the last year and more than 80% since the end of May.

That story is that Rocket Lab stands to be a prime beneficiary of efforts from the US government to diversify away from reliance on Tesla CEO Elon Musk’s SpaceX for national security launch services, especially after the ugly public break between Musk and the president back in June.

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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.

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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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