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US stocks end volatile week on a positive note

The S&P 500 and Nasdaq 100 both ended well in the green, while the Russell 2000 suffered a loss.

Stocks shook off premarket regional banking jitters and bubble fears after comments from President Trump seemed to assuage investors about the risks of trade war escalation with China. The S&P 500 and the Nasdaq 100 ended the day up 0.5% and 0.6%, respectively, while the Russell 2000 finished lower for the second session in a row, down 0.6%.

Almost every sector ETF finished in the green, led by consumer staples.

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Stocks that moved higher:

  • EssilorLuxottica surged to a record high after reporting Ray-Ban Meta glasses helped boost revenue growth.

Stocks that moved lower:

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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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