Finance

Leading into the holiday weekend, US equity benchmarks staged a significant recovery led by a surge in the semiconductor sector. A strategic chip-making partnership between Apple and Intel, alongside continued AI-driven demand for memory products from firms like Micron, propelled the Philadelphia Semiconductor Index to a record high.

In his debut meeting as Fed Chair, Kevin Warsh maintained a restrictive stance by suggesting that interest rate hikes remain on the table for later in 2026. This hawkish signal has pressured Treasury yields higher and led market participants to price in a potential rate increase as early as September or October.

Following a massive initial public offering, SpaceX has rapidly ascended to become one of the world's most valuable publicly traded companies, recently surpassing several members of the 'Magnificent Seven.' While the stock has maintained a significant premium over its IPO price, analysts remain divided on its valuation given the high capital requirements of its Mars and Starlink initiatives.