Luke Kawa2/3/25

Stocks rebound from lows, still end down as tariffs dent risk appetite

The S&P 500 and Nasdaq 100 fell 0.8% while the Russell 2000 gave back 1.3% as President Donald Trump agreed to delay the imposition of tariffs on Mexico by one month. Stocks finished well off their lows thanks to the positive (or less negative) trade news, which broke early in the session.

S&P 500 sector ETFs were split between advancers and decliners. Energy led the way higher, with the planned tariff rate on imported Canadian oil getting chopped, while tech and consumer discretionary were at the bottom of the leaderboard.

Indexes managed to repair the damage with little help from the Magnificent 7. Meta was the lone member of the cohort to gain on the day, and all the rest except for Amazon underperformed the S&P 500. Tesla, Apple, and Nvidia posted steep losses.

Homebuilders were rattled by a steep rise in the price of lumber as tariffs on Canadian imports loom, with DR Horton and Lennar tumbling. GM and Ford finished off the lows, but still well in the red.

Shares of Tyson Foods rallied as America’s love of chicken helped the company beat earnings-per-share estimates by 10% for the sixth consecutive quarter.

Costco hit an all-time high.

BlackRock plummeted after rival Vanguard lowered its average fee to just 0.07%.

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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.

Meta CEO Mark Zuckerberg visits U.S. Capitol for Senate meetings

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