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SpaceX IPO ready for blastoff
To:Brew Readers
Elon Musk's space company made its IPO plans public...

Hello there. What’s a mention of AI that’s even less welcome than praising the tech at a college commencement? Saying that your company’s layoffs of thousands of people will replace “lower-value human capital” with AI, as Standard Chartered CEO Bill Winters recently learned. Winters urged employees in a memo yesterday not to be unsettled by “a quote taken out of context.” But it’s hard to imagine a context that makes this one better besides “say something that’s sure to make everyone mad.”

—Holly Van Leuven, Matty Merritt, Dave Lozo, Molly Liebergall, Abby Rubenstein

In today’s newsletter, we’ll get into:

  • SpaceX filing publicly for its IPO
  • A lawsuit that has Wall Street talking
  • Stephen Colbert’s last night in the host chair

MARKETS

Nasdaq

26,270.36

S&P

7,432.97

Dow

50,009.35

10-Year

4.572%

Bitcoin

$77,320.92

Target

$122.33

Data is provided by

*Stock data as of market close, cryptocurrency data as of 6:00pm ET. Here's what these numbers mean.

  • Markets: Investors were as confident that the sun will come out tomorrow as Little Orphan Annie, sending stocks up as oil prices fell yesterday after President Trump said that the US was “in the final stages” of making a deal with Iran and everyone waited for Nvidia’s earnings (more on that in a bit).
  • Stock spotlight: Target fell (after an initial boost), even though it looks like the retail chain’s turnaround plan is working. The company reported that sales grew last quarter—and doubled its annual growth forecast—but cautioned that consumers are stretched.
 

Markets Sponsored by The Crew

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