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Real-time News
The Dow Jones Industrial Average opened 503.56 points higher, or 0.97%, at 52,567.66 on Friday, September 11; the S&P 500 opened 67.67 points higher, or 0.89%, at 7,659.46; and the Nasdaq Composite opened 218.22 points higher, or 0.84%, at 26,299.95.September 11th - For 15 years, Tesla (TSLA.O) has been the only publicly traded stock on which investors bet on Elon Musk. But since SpaceX (SPCX.O) began trading in June, the electric vehicle giant has had to share this unique investment appeal with SpaceX. In the three months following SpaceXs initial public offering (IPO), Teslas stock price fell 8.9%, while the S&P 500 rose 2.7%. Meanwhile, SpaceXs stock price rose 9.8% from its IPO price of $135 on June 11th. Teslas weak performance is also related to its recent earnings reports and product launches, both of which have failed to demonstrate the companys success in transitioning to physical AI products. "Investors see SpaceX as a purer growth story, while Tesla is seen as a riskier transition bet," said Lale Akoner, global market strategist at eToro. "SpaceX now has to prove its $100 billion annualized revenue scale is achievable, while Tesla has to prove its more than just the Musk concept stock people held before SpaceX went public," said Dave Mazza, CEO of Roundhill Financial.Chevron CEO: The early buffer in the oil market has disappeared, and the price risks from the Iran war are now higher.On September 11, Conservative Party leader Pierre Polievre stated that Canadas abundant oil and mineral resources could help alleviate inflationary pressures in the United States, but the Trump administration needs to ease tariffs on Canada. Polievre strongly promoted Canadas "affordable energy" and said he had discussed with Canadian Prime Minister Mark Carney the establishment of a "strategic national reserve of minerals and oil" for allies to use when needed. Polievre said, "By strengthening trade with Canada, we can lower your cost of living. We can ensure sufficient supplies in the event of future conflict—hopefully never—while ensuring the restoration of the industrial base across North America. But this must be achieved through cooperation."September 11th - As companies seek funding to support massive AI-related spending, the total issuance of convertible bonds in the United States has reached a record high for the year. Data shows that U.S.-listed companies have raised $131 billion by issuing bonds that can be converted into stock under certain conditions; of this, $25 billion raised in August pushed the annual total past the record set two years ago. This issuance boom has attracted emerging AI cloud computing companies such as Nebius Group NV, and investment-grade companies have also entered the fray, with Alphabet issuing the largest convertible bond issuance this year as part of its total $85 billion financing plan. Craig McCracken of Wells Fargo stated, "The current issuance volume far exceeds historical levels because of the significant increase in financing demand from AI and related infrastructure construction, while more investment-grade issuers have also become active again." Goldman Sachs strategist Spencer Rogers pointed out that about 44% of convertible bond issuances this year came from AI-related companies.
