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SpaceX Thoughts: TSLA on Steroids

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What’s in Today’s Report:

  • SpaceX Thoughts: TSLA on Steroids

Futures are lower, led by tech (Nasdaq futures down ~3%) as a heavy selloff in Asian chipmakers including in a ~10% drop in the South Korean KOPSI index, is dragging broader equity markets lower amid valuation and capex worries.

Today, focus is likely to be on whether the pre-market selloff in tech stocks accelerates or stabilizes as trading gets underway on Wall Street, however there are also a few noteworthy economic reports to watch, including the Flash Composite PMI (E: 51.2), and the Richmond Fed Manufacturing Index (E: 8.0).

There are no Fed officials are scheduled to speak today which will leave fixed income markets primarily focused on the economic data and the 2-Yr Treasury Note auction at 1:00 p.m. ET this afternoon.

Finally, there are a few important earnings releases due to be released today including: CCL ($0.34), FDX ($5.91), and CBRS (-$0.14).

Regarding the economic data, investors will be looking for “Goldilocks” data with healthy growth and cooling inflation and strong earnings in order for the market to stabilize from the pre-market rout.

 

How to Get Pre-IPO Exposure to SpaceX

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What’s in Today’s Report:

  • How to Get Pre-IPO Exposure to SpaceX

Futures are modestly lower as NVDA earnings met expectations while markets await news on the ceasefire.

NVDA results were strong but not perfect (small miss on data center revs) and the stock is flat overnight.

Economically, EU and UK May flash PMIs signaled stagflation, with weak growth (sub-50) and high prices.

Today markets will continue to watch the U.S./Iran headlines and any backtracking on yesterday’s “progress” will be a general negative.

Away from geopolitics, however, today is a busy day of economic data that will give us important insight into stagflation risks.  Key reports toady include, in order of importance: Flash Manufacturing PMI (E: 53.5), Jobless Claims (E: 213K), Philly Fed (E: 15.0) and Housing Starts (1.410M).  In general, solid results modestly above expectations are the best case for stocks.  We also have one Fed speaker, Barkin at 12:20 p.m. ET, but he shouldn’t move markets.

Finally, on the earnings front, three notable reports today include WMT ($0.65), DE ($5.81) and WDAY ($1.17).

 

Stagflation or “Run Hot”

Between now and Labor Day, markets should get a much clearer answer on whether the economy is headed toward stagflation or a continued “run hot” environment of resilient growth and elevated inflation.

In this week’s Alpha webinar, we will build a practical “Stagflation vs. Run Hot Summer Scorecard” designed to help advisors identify which environment is developing beneath the surface of today’s market.

Subscribers receive:

  • The key growth and inflation indicators to watch this summer
  • The levels and signals that would point to stagflation vs. run hot
  • Portfolio implications for stocks, bonds, and commodities

Start your zero-risk free trial of Sevens Report Alpha today and access the webinar and all our recent issues: Access the Full Webinar Here

Tom Essaye Discusses SpaceX and xAI Merger With Yahoo Finance

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Tom Essaye Discusses SpaceX and xAI Merger With Yahoo Finance

Why a SpaceX, xAI deal ‘makes sense’

Tesla (TSLA) CEO Elon Musk is in talks to combine SpaceX (SPAX.PVT) with xAI (XAAI.PVT), according to reports. Yahoo Finance Senior Reporter Ines Ferré weighs in on the reporting, while Sevens Report Research founder Tom Essaye explains why he thinks a deal “makes sense.”

Also, click here to view the full video published on Yahoo Finance on February 2nd, 2026. However, to see the Sevens Report’s full comments on the current market environment sign up here.

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