And... it’s gone: S&P 500 goes negative

Well folks, it was fun while it lasted. This morning’s strong jobs report set the stage for the worst day for the markets in an admittedly still young 2025, pushing the blue-chip index into negative territory.

But don’t despair.

There’s a lot of 2025 left, including the start of Q4 earnings season next week. A raft of results from major financial firms will start to roll in on Wednesday with JPMorgan Chase, BlackRock, Goldman Sachs, and Citigroup. That’ll be followed the next day by Bank of America and Morgan Stanley. See you then.

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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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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.

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