Finance

The tech-focused Nasdaq Composite outperformed other major benchmarks with a 2.1% advance, spearheading a multi-day recovery for mega-cap firms. The so-called Magnificent Seven added nearly $1.8 trillion in combined market valuation over three sessions, shaking off a previous downturn sparked by skepticism surrounding capital spending on artificial intelligence.

Fresh macroeconomic indicators revealed unexpected strength in the domestic industrial sector, as the ISM manufacturing index rose to 55.6% for July. This metric reached its highest level since 2022, signaling robust expansion, increased production levels, and accelerated hiring ahead of the highly anticipated monthly labor report.

Shares of the recently public aerospace enterprise hovered near historic lows as investors prepared for its first quarterly financial release. Market participants remain highly divided over the company's valuation, making it the most heavily shorted stock in the United States over the past month as initial investor lockup restrictions expire.