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Palantir and other government contractor stocks rip on reports of Musk’s departure

4/2/25 12:15PM

Stocks of major government contractors and weaponry manufacturers soared shortly before 11:30 a.m. ET on reports that President Trump had told members of his inner circle that Elon Musk would be “stepping back” from his controversial role as the administration’s hatchet man for the federal bureaucracy.

Shares of stocks like Booz Allen Hamilton, Leidos, and Palantir jumped on the news, along with Lockheed Martin and L3Harris Technologies. Those shares had been hit in recent weeks by signs that the Trump administration would carry out deep cuts to defense spending, crimping a key source of sales and profits.

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Tasha Matsumoto

10/31/25

Stocks climb higher as investors shake off hawkish Fed commentary

The S&P 500 and Nasdaq 100 continued their streak of monthly wins.

MADRID, SPAIN - JUNE 18: Actor Sacha Baron Cohen (C) attends "Bruno" photocall at Plaza de Toros de Las Ventas on June 18, 2009 in Madrid, Spain.

Western Digital Stock Rallies as Wall Street Raises Estimates

Western Digital rallies as Wall Street sees more gains ahead

Analysts responded to yesterday’s Western Digital earnings by rapidly ramping up price targets.

Matt Phillips10/31/25

Luke Kawa

10/31/25

December rate cut odds creep lower with Federal Reserve hawks out in full force

A cacophony of hawkish commentary.

Federal Reserve To Make Highly Anticipated Interest Rate Announcement This Week

J. Edward Moreno10/31/25

Gene-editing stocks rally on Bloomberg report that FDA plans to fast-track approval process

Shares of biotechs working with gene-editing treatments rose after the industry’s top regulator told Bloomberg News that the Food and Drug Administration plans to publish a paper in early November outlining the agency’s new, faster approach to approving those treatments.

FDA Clears Way for Faster Personalized Gene Editing Treatments

Jon Keegan

10/31/25

Amazon pulled off its monster quarter despite being left out of OpenAI’s tangle of deals

Amazon’s AWS revenue grew 20% year on year, and will hit $125 billion in capex for the year. CEO Andy Jassy said the 14,000 jobs cut weren’t about money, but about “culture.”

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