economy
Goldman nets a big payday for SpaceX IPO. Plus, what drove our winners and losers this week
Every weekday, the Investing Club releases the Homestretch; an actionable afternoon update just in time for the last hour of trading.
TL;DR
- The stock market is trading higher, influenced by potential peace deal optimism between the U.S. and Iran.
- SpaceX's initial public offering is a record-breaker, with shares up over 25% and generating significant fees for Goldman Sachs and Morgan Stanley.
- Intel saw significant gains due to reports of Google placing a large order for its TPUs and Nvidia testing its technology.
- Software stocks like Salesforce and Microsoft were among the biggest losers this week.
- Apple stock dropped following its WWDC conference, despite introducing new AI features.
- Upcoming events include earnings reports from Jabil, Progressive, CarMax, Kroger, and Accenture, as well as the Federal Reserve's June policy meeting.