Short-Covering Rally... Or Something More?

Imminent SpaceX IPO Filing Ignites Rally Across Space-Linked Stocks News that SpaceX may file an initial public offering prospectus with the Securities and Exchange Commission this week or next sparked a rally across SpaceX-linked names, satellite broadband providers, space transportation firms, and even publicly traded closed-end funds that hold private SpaceX shares. The Information reports that SpaceX is set to file an IPO prospectus with the SEC this week or next, with plans for shares to begin trading on U.S. exchanges sometime in June. Wall Street advisers expect the offering to...

US Southern Command said in a statement on Tuesday that its forces bombed another alleged drug-running boat in the Eastern Pacific Ocean and killed at least five people, as the Trump administration continues to conduct extrajudicial executions at sea. “On October 27, under the direction of U.S. Southern Command, Joint Task Force Western Hemisphere executed […]

Key Events This Week: Warsh Nomination Hearing, Retail Sales, Fed Blackout, Earnings As the war in Iran enters its 8th week, Deutsche Bank's Jim Reid says that recent developments can be framed in two ways: either five steps forward towards peace and three back (seems more apt than three and two), or as evidence that the two sides remain far enough apart that a lasting deal will be extremely hard to achieve and markets have become far too optimistic. Reid leans more towards the former, but the comparison with recent history...