Elon Musk’s other company, SpaceX, is inching closer to making its listed market debut. The company has reportedly enlisted a cohort of investment banks to underwrite the IPO, including Bank of America, Goldman Sachs, JPMorgan and Morgan Stanley, per the FT.
The markets are maintaining their gains across the board, including a 1% rise in the Nasdaq Composite today.
Tesla CEO Elon Musk is expected to take the stage at the WEF in Davos, Switzerland today, the first ever such appearance for the tech titan. Separately, Musk rival Sam Altman is reportedly orchestrating a fresh fundraising with Middle East backers for his company OpenAI in a massive $50 billion round.
The U.S. economy is humming along, thanks to a resilient consumer and robust capex spending in corporate America. The latest data have revealed that GDP expanded by 4.4% in Q4 2025, with forward momentum on its side.
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With President Trump easing off the EU, the markets are taking their cue, rising for the second straight day. All three of the major stock market averages are higher out of the gate, including a 1% spike in the tech-laden Nasdaq Composite while the Dow Jones Industrial Average is racing ahead with a 400-point gain. As President Trump departs Davos, Switzerland for the White House, he has eased fears by easing off European tariffs and pursuing diplomacy amid his Greenland conquest.
On the economic front, fewer Americans filed for unemployment last week than expected, with approximately 200,000 filings compared with estimates calling for 209,000 filings, signaling further labor market tailwinds.
Here’s a look at where things stand as of morning trading:
Dow Jones Industrial Average: 49,461.15 Up 383.92 (+0.78%)
Nasdaq Composite: 23,455.79 Up 226.96 (+0.98%)
S&P 500: 6,925.06 Up 48.44 (+0.72%)
Wall Street firm Raymond James is jumping on the Google bandwagon, lifting shares of Alphabet (Nasdaq; GOOGL) to a “strong buy” from an “outperform” rating and increasing the price target by $50 to $400 per share on AI-driven upside potential.
Semiconductor stocks are seeing some profit taking today, with Advanced Micro Devices (Nasdaq: AMD) and Micron Technology (Nasdaq: MU) both losing modest ground after recent run-ups.
Pharma stock Moderna (Nasdaq: MRNA) is rising on cancer vaccine advancements. MRNA stock is up 2.9% at last check.
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Gerelyn Terzo is the author of dividend investing handbook "Dividend Investing Strategies: How to Have Your Cake & Eat It Too." A veteran financial journalist, she covers agri-finance for outlets like Global AgInvesting and the broader stock market and personal finance for 24/7 Wall Street. She began at CNBC and later helped launch Fox Business in New York. Gerelyn currently resides in Woodland Park, Colorado and dabbles in nature photography as a hobby.
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