Dow Jones Edges Higher While SpaceX Steals the Show With $2 Trillion Valuation
SpaceX soared 23% in its first hour of trading, but the Nasdaq barely budged. Here's why even a $2 trillion newcomer can't move the needle in a market ruled by $4 trillion giants.
Dow Jones Edges Higher While SpaceX Steals the Show With $2 Trillion Valuation
Overview
Wall Street had one job Friday: watch Space Exploration Technologies (NASDAQ: SPCX) take off.
The Dow Jones Industrial Average (DJINDICES: ^DJI) rose 0.4% by noon ET, while the S&P 500 (SNPINDEX: ^GSPC) added 0.1%. The Nasdaq Composite (NASDAQINDEX: ^IXIC) index dipped 0.1%, weighed down by some familiar names making room for the new kid on the block.
Details
The indexes bounced around in the morning but never strayed far from flat. The real action was elsewhere. And even a new $2 trillion player rising 23% (as of this writing at 12:19 p.m. ET -- probably some other figure by the time you read this) wasn't able to lift a Nasdaq index dominated by titans in the $4 trillion club.
Source
Originally published at www.fool.com.
