Stock Market Update

[BRIEFING.COM] The S&P 500 (+1.1%), Nasdaq Composite (+1.5%), and DJIA (+1.2%) are homing in on solid gains that have put all three major averages on track to enter Friday's session with modest gains for the week.

SpaceX (SPCX 151.37, +10.66, +7.58%) is flying higher and trading above its $150 IPO opening price for the first time since July 10, extending its rebound to roughly 40% since the beginning of August, although shares remain far below their post-IPO peak above $225.

The comeback has been underpinned by better-than-expected inaugural public-company results on August 4, continued Starlink subscriber and launch growth, and the successful 13th Starship test flight, which deployed next-generation satellites and produced an intact spacecraft that was later recovered for analysis. Optimism is also building ahead of Starship's next test and around SPCX's longer-term AI infrastructure potential. Even after the rally, the substantial discount to the high shows that investors continue to balance SPCX's unmatched launch and connectivity assets against enormous capital requirements, execution risk, and looming share-unlock pressure.