Oil giants slide as OPEC+ eyes another output hike

Oil stocks sank Wednesday after reports that OPEC+ is weighing another 1.65 million barrels per day in output hikes, beginning to undo prior rounds of cuts a year earlier than previously planned, and could even agree on further production increases at its meeting this weekend.

Oil names including ConocoPhillips, Phillips 66, APA Corporation, Diamondback Energy, Devon Energy, Halliburton, and EOG Resources were all in the red as investors digested the prospect of a supply boost.

The pullback comes as traders consider the group’s next move ahead of its fall meeting, with speculation growing that Saudi Arabia and Russia could push for higher output to maintain global market share.

Despite steady prices earlier this summer, a ramp in supply would likely pressure US producers, who are already grappling with signs of softening demand and rising costs.

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Credit markets have a “debt” problem, not a “risk” problem

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Meet the newly public, Bezos-backed company that’s recreating the sun and stars

General Fusion CEO Greg Twinney spoke with Sherwood News from the Nasdaq during the stock’s first day of trading.

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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%

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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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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