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The SpaceX IPO Happened. Here's What's Next.
SpaceX just completed the largest IPO in history — a debut valuation near $2 trillion.
Most investors are still chasing that headline. Smarter investors are asking a different question: what moves next?
The real opportunity may not be in the stock everyone already piled into. It's in the public companies riding the same trends SpaceX just proved are investable — satellites, defense, AI infrastructure, and next-gen communications.
We built a free briefing on 5 of them, including two names that actually fell after the IPO for reasons that may not last. Get the free briefing and see where the smart money is looking next.
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Good morning. Today is one of the bigger days of the month: the Fed's favorite inflation reading lands before the open, and Nvidia reports earnings tonight after the close. Buckle in.
The Market Gauge
The S&P 500 closed at 7,677.28, up 0.32%. The Nasdaq composite closed at 26,151.30, up 0.66%. The Dow Jones Industrial Average closed at 53,577.40, up 0.30%. The Russell 2000, which tracks smaller companies, rose 0.50%.
Falling oil prices and falling Treasury yields gave stocks room to run, and money moved into tech ahead of Wednesday's big Nvidia report. Chip names led the Nasdaq's advance, with Nvidia, AMD, and Marvell all posting solid gains. Canada announced retaliatory tariffs on roughly 700 U.S. products worth about $20 billion, responding to the tariffs the U.S. placed on Canadian goods over the weekend, though markets shrugged it off.
Beginner note: IBD flagged that the Nasdaq "found support" at its 50-day moving average Tuesday, meaning the index dipped toward that longer-term trend line and bounced rather than breaking below it. The 50-day line is one of the more widely watched support levels on a chart, more significant than the shorter-term 21-day line from Monday's note. A bounce off it is a modestly encouraging sign that the broader trend is still intact.
On today's calendar
The PCE inflation report (8:30 AM ET). This is the Fed's preferred inflation gauge, and it's the single biggest item on today's calendar. Economists expect July prices rose 0.1% for the month and 3.6% over the past year; the core reading (which strips out food and energy) is expected at 0.2% for the month and 3.3% annually. A hotter-than-expected number tends to push rate-cut hopes further out and can pressure stocks; a cooler one tends to do the opposite.
GDP, second estimate (8:30 AM ET). A revision to the government's read on how fast the economy grew last quarter. Usually a smaller market mover than the first estimate, since most of the surprise has already been absorbed.
Nvidia reports earnings tonight after the close. The single biggest catalyst of the week, and arguably the month, for the entire AI trade. Nvidia has formed a cup-with-handle base with a 227.92 buy point heading into the report.
Zoom and Intuit react this morning. Both reported after Tuesday's close. Zoom was sitting inside a cup-with-handle base with a 110.89 pivot going into the report; Intuit has been under pressure, trading below its 200-day line even after reclaiming its 50-day.
On the radar: Newmont
$NEM ( ▲ 0.84% ) is the world's largest gold mining company. Tuesday the stock rose 2.50% to close at 135.14, a fresh all-time high, its fifth straight day of gains, clearing a 134.88 buy point from a long base. Unlike Monday's radar pick, which broke out in one violent, double-volume session, Newmont has been climbing in smaller, steadier daily gains, a quieter but equally valid way for a leadership stock to signal strength. The move fits today's bigger story too: gold has been rising toward three-month highs on a weaker dollar and geopolitical uncertainty, the same forces investors are watching ahead of this morning's inflation report.
Why it's worth watching: not every breakout looks the same. A stock that grinds higher for five straight sessions on rising money flow is showing the same underlying institutional buying as a stock that gaps up in a single day, just spread out. Both are worth learning to recognize.
ONE FOR THE ROAD: Two big catalysts land today, the PCE report this morning and Nvidia's earnings tonight. Which one do you think will move your watchlist more? Reply and let me know.
Educational content only. Not financial advice. Past performance does not predict future results. Read the full financial disclosure.