Live Markets: SpaceX got "the first mover" advantage

United Rentals

Today 17:46

Adds post
Major U.S. stock indexes higher
Healthcare leads S&P sector gainers; industrials are the biggest laggards
Europe's STOXX 600 off ~0.7%
Gold, bitcoin up >1%; dollar down; U.S. crude off ~4%
US 10-year Treasury yield dips to ~4.37%
Welcome to the home for real-time coverage of markets brought to you by Reuters reporters. You can share your thoughts with us at markets.research@thomsonreuters.com
     
SPACEX GOT "THE FIRST MOVER" ADVANTAGE 
SpaceX's SPCX.O recent initial public offering has sparked much attention about other big IPOs investors have been expecting, namely OpenAI and Anthropic.
But Elon Musk and SpaceX's getting it done ahead of them gave the company an advantage, Jake Dollarhide, chief executive officer of Longbow Asset Management in Tulsa, Oklahoma, said in an interview with Reuters this week. 
Elon Musk "beat them to market," he said. "It can prove to be a significant" in terms of raising money and attracting investors.
"The first mover effect is always the most," he said. He noted earlier this week that OpenAI may be coming to market only "because they need the capital." 
 IPOs of AI companies OpenAI and Anthropic had been anticipated later this year. The New York Times reported late Thursday, citing three people involved in the company's deliberations, that OpenAI is considering holding off on its public debut until next year.
SpaceX started trading on the Nasdaq June 12 in its $75 billion IPO, the largest in stock market history.
(Caroline Valetkevitch)
*****
     
EARLIER ON LIVE MARKETS: 
U.S. HEALTHCARE INFLATION SLOWDOWN MAY PROVE TEMPORARY - MS CLICK HERE
GRAY SKIES ARE GONNA CLEAR UP: UMICH, ADVANCE GOODS TRADE/WHOLESALE INVENTORIES CLICK HERE
NASDAQ DOWN AGAIN WITH MORE TECH SELLING, S&P 500, DOW TURN GREEN CLICK HERE
WALL ST POISED TO MAKE LIKE A LEMMING AND FOLLOW GLOBAL SHARES LOWER CLICK HERE
UBS WARNS OF 'AI CAPEX TAPER TANTRUM' AS MAG 7 STOCKS SLIDE CLICK HERE
CITI GOES OVERWEIGHT GILTS, BUT GOOD AND BAD FOR BURNHAM CLICK HERE
ASIA'S FUNDING THE AI BOOM AS WELL AS BUILDING THE HARDWARE CLICK HERE
UNWINDING DOLLAR DEBASEMENT BETS SEES GOLD LOSE ITS SHINE CLICK HERE
SOFT END TO THE WEEK CLICK HERE
EUROPE BEFORE THE BELL: SHAKY SENTIMENT CLICK HERE
CHIPFLATION CLICK HERE

Early snapshot https://fingfx.thomsonreuters.com/gfx/mkt/klvyogwrnvg/Pasted%20image%201782483555542.png
UMich current conditions v expectations https://www.reuters.com/graphics/USA-STOCKS/zgpoebgdqpd/UMich.png
UMich inflation expectations https://www.reuters.com/graphics/USA-STOCKS/jnvwzynompw/Umichinflation.png
Advance trade balance and GDP https://www.reuters.com/graphics/USA-STOCKS/gdvzeqogopw/gbal.png
Advance wholesale inventories and GDP https://www.reuters.com/graphics/USA-STOCKS/znpnobrgavl/awin.png