Elon Musk's SpaceX has garnered investment interest on Capitol Hill. Half a dozen lawmakers have taken stakes in the company, according to recently disclosed transactions. Read more: https://lnkd.in/etVyv6qB
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🔴 Semiconductor stocks are falling out of bed. The PHLX Semiconductor Index briefly broke below 11,000 Tuesday and is now down over 25% from its June high. 💾 The damage is especially severe in memory stocks. SK Hynix hit an all-time low in US trading, Micron Technology has shed over $450 billion in market value in July, and Sandisk has been cut by more than half since late June. 🟢 But this is not a marketwide breakdown. The S&P 500 equal-weight index rallied to a record high, nearly three-quarters of S&P 500 stocks remain positive in July, and the advance-decline line reached a record of its own. ⚠️ As long as those broader breakouts hold, the chip crash remains a sector problem. A reversal would be the first sign the damage is spreading. My latest AlphaCheck: https://lnkd.in/dsi2WgWT
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Meta and BlackRock are teaming up on a massive $14 billion data center campus in Texas. The race to build out AI infrastructure has prompted tech giants to turn to debt sales worth tens of billions of dollars and seek external capital from fund managers such as BlackRock due to an unprecedented scale of investment. Read more: https://yhoo.it/4yFtt77
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