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On August 13th, SpaceX (SPCX.O) shares surged nearly 12% intraday. This rise was driven by a Morgan Stanley research report, which argued that the public market significantly undervalued SpaceXs artificial intelligence enterprise platform. Investors are increasingly viewing SpaceX not just as an aerospace and satellite hardware company, but as a vertically integrated technology giant with its own data, global network infrastructure, and cutting-edge AI models. Morgan Stanley analyst Adam Jonas stated that SpaceXs recent AI offerings demonstrate a broader software ecosystem, with GrokBot being early evidence of this platform. This platform combines unique real-time data, vertically integrated computing power, connectivity, and intelligence—values not yet fully priced into the market. The report points out that SpaceX possesses two structural advantages: a real-time data pipeline from telemetry data from the X and Starlink satellite networks; and a "real-world" moat combining low-cost computing power with a global communication network. Musk previously stated that Grok 4.7 will surpass all current models, citing SpaceXs unique and powerful training data as giving it an advantage in real-world engineering capabilities.Market news: Minouch Shafiq, former deputy governor of the Bank of England and director of the International Monetary Fund, has stepped down as chief economic advisor to the British Prime Minister.U.S. Central Command: As of August 12 local time, the U.S. military has forced 59 merchant ships to change course, rendered 3 ships inoperable, and boarded and inspected 2 ships.According to CBC News: Canada and the United States are not yet ready to reach a tariff agreement, and Canada is dissatisfied with the latest U.S. proposal.Irans Persian Gulf Straits Authority: US officials have claimed and repeatedly announced that the Strait of Hormuz is no longer blocked, but these claims do not change the reality: the Strait of Hormuz remains closed and will not reopen unless Irans conditions are accepted.

S&P 500 Struggling to Find Direction Ahead of Powell’s Speech on Wednesday

Steven Zhao

Nov 30, 2022 16:12

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Following encouraging developments in China overnight and U.S. housing statistics that revealed a further drop in home values, the major US stock indices are anticipated to open Tuesday with mixed results.


Investors are putting their faith in China's early exit from COVID-related curbs.


Tuesday's early loss in the broad S&P 500 and NASDAQ Indexes was reversed after China reported a drop in new COVID-19 infections for the period ending November 28. According to CNBC calculations using Wind Information data, the nation reported that local illnesses, the majority of which lacked symptoms, totaled 38,421, down from a record high of 40,052 reported on Sunday.


The data showed that on November 19, the daily case count decreased from the day before.


On Monday, there was also no sign of any fresh demonstrations. Students and other groups protested the strict zero-COVID policy in China over the weekend by holding rallies in front of the public.


As a result of this announcement, markets rose overnight on expectations that China might lift its COVID restrictions sooner than expected.

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