Stock Market Update
29-Jun-26 12:35 ET
Major averages trade in stable range
Dow +220.52
at 52096.63,
Nasdaq +394.77
at 25713.38,
S&P +56.29
at 7410.31
[BRIEFING.COM] The S&P 500 (+0.8%), Nasdaq Composite (+1.4%), and DJIA (+0.5%) continue to trade in a stable range just after midday.
Rocket Lab USA (RKLB 95.08, +10.54, +12.47%) is sharply higher after agreeing to acquire Iridium Communications (IRDM 53.34, +9.82, +22.56%) for $54 per share in cash and stock, implying an enterprise value of approximately $8.0 billion. The deal would mark a major expansion beyond launch and spacecraft manufacturing, adding an established satellite communications business with recurring service revenue and strong profitability. Investors appear to be focusing on the strategic step-change, as Iridium would give Rocket Lab USA the network, spectrum, and customer relationships needed to sell services directly from space.
