Luke Kawa3/24/25

US stocks surge as White House signals softer touch on tariffs

US stocks surged as the White House signaled that tariffs planned to go into effect next week may not be as onerous as investors feared.

The S&P 500 rose 1.8%, the Nasdaq 100 gained 2.2%, and the Russell 2000 jumped 2.5%.

While most S&P 500 stocks advanced, momentum stocks were the big drivers of upside on Monday. Tesla posted a double-digit gain to lead all S&P 500 stocks, while AI infrastructure and energy plays like Monolithic Power Systems and Arista Networks were also near the top of the day’s leaderboard. Airline stocks, led by United Airlines, were also among the largest gainers amid this presumptive lighter touch on tariffs.

The consumer discretionary sector ETF had its best day since the session following the US election; tech, industrials, financials, and communication services also gained more than 1%. Utilities was the lone sector ETF to go negative on the day.

Shares of Robinhood made it four straight days in the green as Morgan Stanley highlighted a corporate event this week as a key catalyst for the company.

(Sherwood Media is an editorially independent subsidiary of Robinhood Markets Inc.)

IBM rose about 2% after being added to Wedbush’s Best Ideas list.

Mining giant Freeport-McMoRan jumped amid a flurry of bullish options bets targeting a significant near-term rally.

Pinterest was also the beneficiary of Wall Street’s enhanced confidence in the company as shares were upgraded by Guggenheim and named Bank of America’s top pick among mid-cap internet and e-commerce stocks.

GameStop also gained ahead of earnings tomorrow, with options positioning leaning very bullish due to a seeming dearth of bears.

Meanwhile, Lockheed Martin dipped as Bank of America took a hatchet to its price target and downgraded the shares after the defense firm was beat out by Boeing for an Air Force contract.

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J. Edward Moreno2h

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.

Floridians Seek Employment Opportunities At Job Fair In Sunrise

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

markets

Paige Oamek6/30/26

Nike sinks to lowest level since 2014 after warning of “challenged” sales environment in Q4 report

Did Nike do it?

Investors had a mixed reaction after the global sports apparel company reported its fourth quarter earnings on Tuesday after the bell. Shares initially rose 5% as Nike beat out Wall Street expectations amid a hefty tariff refund bonus. However, the stock then sank to its lowest level since August 2014 in postmarket trading.

Here are the Q4 numbers:

Revenue of $11.0 billion (estimate: $10.8 billion).
Adjusted earnings per share of $0.20 (estimate: $0.12).

Ahead of this report, Nike warned that results would be flattered by a one-time tariff refund (now estimated at roughly $0.52 per share for the bottom line). That gave the company an extra cushion in snapping its streak of seven quarters of year-over-year profit declines.

Over the past year, the company had been punished by tariffs on imported goods, stagnant consumer spending, and increasing competition from other footwear brands like New Balance, Adidas, and Hoka.

Outgoing CFO Matthew Friend deemed it an “increasingly challenging operating environment, where sell-through remains challenged.”

markets

Helena Cheng6/29/26

Rocket Lab deal lifts space stocks

Shares of Rocket Lab are surging after announcing an $8 billion acquisition of satellite communications operator Iridium Communications, helping lift a broader basket of space-related stocks as investors piled back into the sector.

Planet Labs, AST SpaceMobile and Redwire all traded higher alongside Rocket Lab, extending gains in an industry that has drawn enhanced investor attention in recent months in light of the strategic importance that governments place on space and satellite communications infrastructure.

In a presentation, Rocket Lab’s management called the purchase “a shortcut” for its satellite communications business.

Under the terms of the agreement, Iridium shareholders will receive $27 in cash and Rocket Lab stock, valuing Iridium at $54 per share. Backed by a $3.6 billion bridge loan committed by Deutsche Bank and Wells Fargo, Rocket Lab absorbs Iridium’s globally licensed spectrum and an active base of 2.5 million subscribers.

Rocket Lab has also remained one of the most active launch providers in the sector. The company completed its 12th launch of the year last week, maintaining one of the highest launch cadences among commercial space companies.

Today's rally helps offset a brutal stretch for the group. Rocket Lab shares had fallen over 35% over the prior month, while Planet Labs stock was down more than 40% and AST SpaceMobile stock was down around 30% over the same window.

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