SpaceX's shares increased by 5% as it entered its second day of trading on the Nasdaq, following a 19% rise from its IPO price of $135 per share during its debut. In contrast, energy stocks experienced a downturn, with U.S. oil prices dropping 5% to around $80 per barrel, influenced by a U.S.-Iran deal that may reopen the Strait of Hormuz.
Companies like APA and Devon Energy saw declines of over 3.5%, while Marathon Petroleum and EOG Resources fell by 3%. Major oil players such as Chevron and Exxon Mobil also reported losses exceeding 2.5%. Conversely, airlines and cruise lines benefited from lower fuel costs, with United Airlines up more than 5% and Delta Air Lines rising 4%.
Norwegian Cruise Line and Carnival Corporation both gained 4.5%, while Royal Caribbean increased by 4%. In the media sector, Paramount Skydance rose nearly 5% after the U.S. Justice Department approved its acquisition of Warner Bros. Discovery, although potential state-level challenges remain.
On the other hand, Fox Corporation's shares plummeted 12% after announcing its acquisition of Roku for $160 per share, an 11% premium over its previous closing price, as the company aims to strengthen its position in sports, news, and streaming. Roku shares were halted in premarket trading, reflecting the volatility surrounding the deal