Luke Kawa3/18/25

US stocks swoon in Magnificent 7 meltdown

The S&P 500 fell 1.1%, the Nasdaq 100 dropped 1.7%, and the Russell 2000 gave back 0.9% as the tech and momentum-heavy selling returned on Wall Street.

Healthcare was the lone S&P 500 sector ETF to finish positive; consumer discretionary, tech, and communication services (the sectors home to the so-called “Magnificent 7”) were the worst performers.

A speech from Nvidia CEO Jensen Huang was not the catalyst for the stock that bulls were hoping for: shares peaked as his address began, and ended the day deep in the red.

Alphabet closed at a 2025 low after announcing an agreement to buy Wiz for $32 billion in an all-cash deal. Meta and Amazon also ended the day at their lowest level of the year, with the former wiping out all its 2025 gains.

It was also another awful day for Tesla, as the negative headlines for the company pile up. Among them: Chinese rival BYD’s revelation of an EV charger that is reportedly far faster than what the Musk-led company has available.

Palantir Technologies swooned amid the momentum downturn and continued selling by insiders.

SoundHound AI tumbled as short sellers continue to press bets against the retail darling.

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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%

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Meta surges on report it’s starting a cloud business to sell excess AI compute

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