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Nvidia Raises $25B in Bond Sale, SpaceX Leapfrogs Amazon in Market Cap

The Rundown

Public.com presents The Rundown, your daily market update in 10 minutes. My name is Zaid Admani and today is Tuesday, June 16th. In today's episode, we'll explain why Nvidia is borrowing $25 billion. We'll also get into why SpaceX is buying the AI coding company Cursor for $60 billion. Then stick around to the end of the show to find out the surprisingly small economic impact of the World Cup.

We got a great show for you today. Let's go. The market was off to a hot start on Monday. The S&P 500 jumped 1.7% while the Nasdaq surged 3.1% as investors celebrated the U.S.-Iran peace deal and the expected reopening of the Strait of Hormuz. But you know, what caught my attention was that this wasn't a broad-based rally.

In fact, nearly half the stocks in the S&P 500 were in the red on Monday. This rally was mostly carried by tech and AI stocks. The tech sector was the best-performing sector and the SOX semiconductor index jumped over 5%. But then on the flip side, the energy sector was the worst-performing, down over 3% because oil prices fell on the hopes that Hormuz will reopen and the global energy shipment can go back to normal soon.

So yesterday's rally was investors rotating out of the war trade and jumping right back into the risk-on tech and AI trade, which had been beaten up over the last couple of weeks. And now the market attention will turn over to the Fed. The Fed meeting kicks off today, and one of the concerns hanging over the market has been the war-driven inflation and surge in energy prices would force the Fed to raise interest rates at some point this year. In fact, the market is still concerned about that.

Nvidia Raises $25B in Bond Sale, SpaceX Leapfrogs Amazon in Market Cap

Read the full transcript

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

Nvidia Raises $25B in Bond Sale, SpaceX Leapfrogs Amazon in Market Cap

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.