Investing
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SpaceX surge further boosts Saudi billionaire prince’s fortune
Friday’s debut share surge for SpaceX is bolstering the fortunes of one of Saudi Arabia’s richest men. Prince Alwaleed bin Talal’s investment firm Kingdom Holding Co. surged at Sunday’s open after SpaceX’s share gains on its first day of trading drove the value of the Saudi firm’s holding to almost $7 billion, or roughly half…
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The hottest debate on Wall Street right now: Does the flood of mega-IPOs and new shares signal a downturn ahead? That depends
Investors swarmed all over SpaceX’s historic IPO and are hyped about public debuts for OpenAI and Anthropic later this year, but they’re also wondering if the good times will keep rolling. While the stock market has demonstrated stunning durability amid shocks like President Donald Trump’s trade war and Iran war, the flood of new shares…
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You can ignore AI giants like SpaceX, but your 401(k) won’t
While you might want to ignore all the hubbub around SpaceX, Elon Musk and IPOs, your 401(k) likely can’t. SpaceX is now worth $2.1 trillion after its stock launched 19.2% higher in its debut on Wall Street. Whether or not you believe it deserves to be worth more than Exxon Mobil, Bank of America and…
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Live updates from SpaceX IPO debut: SpaceX valuation now at over $2 trillion as stock climbs to $175 a share
Today could mark one of the biggest days in stock market history—or set the stage for one of its greatest flops. SpaceX, the most hotly anticipated stock market debut ever, soared in its first minutes of trading on Friday. Elon Musk’s rocket, satellite, and AI empire made its long-awaited debut on both the Nasdaq Global…
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The economist who said ‘no bubble’ just sounded the alarm: ‘The season of chaos is at hand’
Back in February, with the S&P 500 breaching 7,000 for the first time, Owen Lamont was one of the few economists willing to say it plainly: we are not in a bubble. Four months later, he’s sounding the alarm. “The chamber of dispersion has been opened,” Lamont, a senior portfolio manager at Acadian Asset Management…
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Bank of America told investors to ‘take profits.’ Then the Nasdaq fell 7%
Bank of America told investors to “take profits” on June 5, and many of them did. Savita Subramanian’s strategy team flagged seven of the firm’s 10 bear-market signposts—five already triggered by April, plus two more in May—and told clients to trim their winners. The firm sees the S&P 500 ending the year at 7,100, below…
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‘The circulatory system isn’t working.’ Goldman on what’s really wrong with private markets
The machine that powers private markets — the steady rhythm of companies being bought, built, and sold — is jammed. Hold periods for buyout-backed companies have stretched to nearly seven years, up from five-and-a-half a decade ago. Distributions to investors, the lifeblood of the entire ecosystem, have fallen far below the historical norm of 15%-20%.…
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Wall Street dumped nearly $1 trillion in tech stocks by midday—then clawed it back and bought peanut butter and paint
Today, the Nasdaq Composite looked like a V: down more than 4% by lunchtime, closing off just 1%. Nobody knows exactly why. Around noon, the AI jitters came back, and traders dumped the highest-beta names—the frothiest, most volatile stuff, like Strategy (MSTR), the leveraged bitcoin vehicle that had popped Monday; AppLovin (APP); the photonics maker…
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Mystery NASDAQ selloff adds tension into a make-or-break week for the AI trade
Another sell-off for high-flying artificial-intelligence stocks is dragging Wall Street sharply lower on Tuesday. The S&P 500 dropped 1.7% after careening between an early gain of 1% and a loss of 2.3%, sinking further from its all-time high set a week ago. The Nasdaq composite was 2.9% lower, and the Dow Jones Industrial Average was…
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AI stocks are recovering after suddenly tanking last week as oil prices drop more than 3%
The U.S. stock market is ticking higher Tuesday as artificial-intelligence stocks regain more of their sudden and sharp losses from last week, while oil prices ease. The S&P 500 rose 0.2% and pulled back within 2.5% of its all-time high set a week ago. The Dow Jones Industrial Average was up 195 points, or 0.4%,…