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Yiwen Lu

Retail traders scrambled to check portfolios on Monday. The internet could barely handle it.

Online trading platforms including Charles Schwab, Vanguard and Fidelity experienced disruptions Monday morning, leaving frustrated retail investors nowhere to go on a day of frantic market sell-off.

Users turned to Reddit and X to report that they weren’t able to log into their accounts. As a result, consumers lost access to the market “at the most crucial times,” one Reddit user said

At around 12:30 p.m. EDT, Charles Schwab said on X that a “ technical issue experienced by some clients has been resolved.” Vanguard first acknowledged the issue and that it was “working diligently to restore functionality” in a post on X, which was later taken down.

At its peak, Charles Schwab was down for 15,462 users, according to online tracking website Downdetector.com. The Securities and Exchange Commission told Reuters that they were tracking the developments.

Disclosure: Sherwood Media is a independent subsidiary of Robinhood Markets, Inc., which competes with some of the trading platforms listed here.

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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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Nike sinks to lowest level since 2014 after warning of “challenged” sales environment in Q4 report

Did Nike do it?

Investors had a mixed reaction after the global sports apparel company reported its fourth quarter earnings on Tuesday after the bell. Shares initially rose 5% as Nike beat out Wall Street expectations amid a hefty tariff refund bonus. However, the stock then sank to its lowest level since August 2014 in postmarket trading.

Here are the Q4 numbers:

  • Revenue of $11.0 billion (estimate: $10.8 billion).

  • Adjusted earnings per share of $0.20 (estimate: $0.12).

Ahead of this report, Nike warned that results would be flattered by a one-time tariff refund (now estimated at roughly $0.52 per share for the bottom line). That gave the company an extra cushion in snapping its streak of seven quarters of year-over-year profit declines.

Over the past year, the company had been punished by tariffs on imported goods, stagnant consumer spending, and increasing competition from other footwear brands like New Balance, Adidas, and Hoka.

Outgoing CFO Matthew Friend deemed it an “increasingly challenging operating environment, where sell-through remains challenged.”

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