Market update for Thursday July 16, 2026 Check out the Public app for incredible investing tools and to support the show (LINK) Follow us on Instagram (@TheRundownDaily) for bonus content and instant reactions. In today’s episode, Zaid covers: SpaceX briefly falling below its $135 IPO price for the first time TSMC’s 77% profit surge and its new $100 billion U.S. investment UnitedHealth ripping higher after a major earnings beat and raised outlook United Airlines falling as higher fuel costs pressure its forecast T. rex fossil selling for a record-breaking $50.1 million

TSMC Profit Surges 77%, SpaceX Falls Below IPO Price 

The Rundown

Public.com presents The Rundown, your daily market update in 10 minutes. My name is Zaid Admani and today is Thursday, July 16th. In today's episode, we'll tell you why hot names like SpaceX are getting crushed lately. We'll also recap a monster quarter from TSMC and explain why the chip maker is investing another $100 billion in the US.

Then stick around to the end of the show to find out how much T-Rex skeletons are going for these days. We got a great show for you today. Let's go. Stocks squeezed out another day of gains on Wednesday. The S&P 500 rose 0.4% while the NASDAQ added 0.6%. Chip stocks took another hit though with the SOX index falling more than 2%. And overall, some of the hottest names on the market are getting crushed these days.

SpaceX is a good example of this. It's been about a month since their IPO and the stock actually fell below its IPO price of $135 a share on Wednesday. This is the same stock that jumped 50% on its first three days of trading, but the hype has started to fade. You know, there are ETFs that track momentum stocks, which are stocks that have gone up a lot recently. And the momentum trade is down 7% for the month of July.

So we're seeing investors move out of the hot names and into boring sectors like financials, which hit a record high yesterday thanks to strong bank earnings this week. Apple also closed at record highs yesterday, and Apple is not exactly a sexy AI name. Now we'll see if the AI trade gets back on track because TSMC just reported monster earnings. We'll talk more about those in a bit.

TSMC Profit Surges 77%, SpaceX Falls Below IPO Price

Read the full transcript

The candid version is on a podcast,
not the earnings call.

TSMC Profit Surges 77%, SpaceX Falls Below IPO Price

Read the full transcript

The candid version is on a podcast, not the earnings call.

The candid version is on a podcast,
not the earnings call.