Palantir loses crown as S&P’s top stock

Easy come, easy go.

Palantir’s 13% stumble since it reported pretty strong Q1 results means it’s lost its privileged position as the blue-chip index’s top-gaining stock in 2025. CVS Health is now back in the catbird seat.

Palantir, which was only added to the index last September, was the best performer in the S&P 500 in 2024, thanks to a 340% gain.

The defense, data, and AI software firm is still sitting on gains of more than 40% this year, compared to losses of 4.5% for the S&P 500 and 6% for the Nasdaq 100. (Not to mention losses of 16% and 32%, respectively, for fellow retail favorites Nvidia and Tesla.)

Not too shabby.

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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

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