Stock Market Today: SpaceX Rallies, Pointing to Third Day of Gains

Live updates

1. 6d ago

   SpaceX Stock Rally Extends to Third Day as Valuation Surpasses Amazon, Dow Hits Record

   SpaceX shares climbed for a third straight session, pushing its market cap past Amazon’s and nearing Microsoft’s. The Dow Jones Industrial Average hit a fresh record high on Tuesday, while broader indexes slipped amid mixed sentiment. Retail buying and IPO momentum drove SpaceX’s gains, though Middle East tensions and Fed policy loomed as risks. Elon Musk’s net worth hit a record $1.3 trillion.

   What's confirmed:

   • SpaceX’s stock rose for a third consecutive day, extending its rally as its market cap surpassed Amazon’s valuation.
   • The Dow Jones Industrial Average hit a new intraday and closing record high on Tuesday, driven by optimism around a potential U.S.-Iran peace deal.
   • SpaceX’s market cap is now valued at over $2.75 trillion, surpassing Amazon’s and closing in on Microsoft’s.
   • Elon Musk’s net worth reached a record $1.3 trillion following SpaceX’s stock surge.
   • Retail investors are fueling SpaceX’s rally, contributing to a retail-buying frenzy in premarket and regular trading.
   • The Nasdaq Composite and S&P 500 slipped slightly, while the Dow and TSX hit fresh record closes, reflecting mixed market sentiment.
   • SpaceX’s stock is on track for a more than 50% jump in just three trading sessions.
   • Oil prices slid further on optimism around a U.S.-Iran peace deal, contributing to broader market gains.

   Still unconfirmed:

   • SpaceX could reach approximately $1 trillion in annual revenue by 2030, according to CEO Elon Musk’s comments.
   • The Fed’s upcoming decision may impact market stability, though no official policy changes have been announced.
   confidence 97%