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Stock Market Live June 10: S&P 500 (VOO) Rises as Investors Anticipate Voyager Space IPO
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Key Points
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Space station builder Voyager Technologies is set to IPO on the NYSE at a share price of $26 or higher.
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There’s a new bill in the Senate that would raise the federal minimum wage to $15 per hour.
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Tuesday wrap-up
The Vanguard S&P 500 ETF closed at 554.41 Tuesday, up 0.6%.
Meta Scales Up
In M&A news, The Information reports that S&P 500 component company Meta Platforms (Nasdaq: META) will pay $15 billion to acquire a 49% stake in artificial intelligence startup Scale AI. Scale’s CEO, Alexandr Wang, will take a “top position” at Meta.
Demand for 1-Year T-Bills Looks Strong
In U.S. government debt news, the Treasury Department just wrapped up an auction of $48 billion worth of one-year T-bills, and the results were encouraging 3.22 more bids were received than there were notes on offer, pushing prices up and yields down. The auction cleared at 3.940%, down 1.8 basis points.
Westinghouse Stake Boosts Cameco
In nuclear news today, CIBC, just raised its price target on outperform-rated uranium miner Cameco (NYSE: CCJ) to $95 after the company announced its 49% stake in nuclear power plant builder Westinghouse may add $170 million to Cameco’s Q2 EBITDA. Cameco expects Westinghouse EBITDA to grow 7% to 9% from 2026 to 2028.
Cameco stock is up 6%.
This article will be updated throughout the day, so check back often for more daily updates.
Investors will get the chance to invest in a new space IPO soon, with Denver-based Voyager Technologies preparing to IPO on the NYSE under the ticker symbol “VOYG.” Shares of the space company, which is leading an effort to build a new space station to replace the International Space Station, are expected to price between $26 and $29 today, valuing the company at up to $1.6 billion. The shares will then begin trading on Wednesday.
In London, U.S. and Chinese representatives continue to meet and negotiate a new trade deal to reduce tariffs and non-tariff trade barriers.
And in Washington, D.C., Missouri Republican Senator Josh Hawley just co-sponsored legislation to raise the national minimum wage to $15 per hour. The bill, co-sponsored by Vermon Democrat Sen. Peter Welch, is titled the “Higher Wages for American Workers Act,” and if passed would go into effect in 2026, lift minimum wages nationally (unless higher wages are already in effect at the state level), and keep on raising the minimum wage thereafter in line with inflation.
The Vanguard S&P 500 ETF (NYSEMKT: VOO) opened higher, and is up 0.1% in the first few minutes of trading.
Earnings
S&P 500 component company J.M. Smucker (NYSE: SJM) beat on earnings this morning, reporting Q4 2025 profit of $2.31 per share, but missed on revenue, reporting $2.1 billion in quarterly sales. The consumer packaged foods company warned that fiscal 2026 earnings will fall short of analyst projections, ranging from $8.50 to $9.50 per share.
Analyst Calls
In other foods news, component company Yum! Brands (NYSE: YUM) was upgraded to buy by Redburn-Atlantic, with a $177 target price. Redburn called Yum “one of the most compelling setups in our coverage … delivering outsized profit and innovation.” The analyst notes that Yum stock trades at 23.6x 2025E P/E currently, but believes the stock is worth 28.7x earnings.
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