Markets
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Luke Kawa

Trump Media halted for volatility as massive gains disappear

Trading in shares of Trump Media & Technology Group has been halted for volatility three times since 2:48 p.m. ET as its daily gain of as much as 18% evaporated.

The stock, which was the most actively traded in the premarket today as of 8:45 a.m. ET before ceding that title to Nvidia and Palantir, was down nearly 9% before rebounding into positive territory.

Volumes traded so far today have been roughly double their one-month average, which is already a period of elevated activity in the shares.

To us, it’s not surprising that DJT’s surge fizzled out around $40 — a strike where there’s a ton of open interest for Friday’s expiry.

What’s behind it? A seemingly early strong performance by Democrats in Nevada’s Clark County? High turnout in Philadelphia, whose suburbs will be crucial in deciding the Keystone state?

Well, we could speculate, but we’d rather leave the speculating to the folks trading DJT.

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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%

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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Luke Kawa
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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