Snapshot · On Purpose with Jay Shetty
Within 30 days of the Amazon merger closing, Amazon increased the pay of every hourly Whole Foods team member, costing hundreds of millions of dollars.
The Nasdaq posted the biggest gain of the major indices on the day, driven largely by a semiconductor stock rally.
Micron, SanDisk, and Western Digital each rallied as much as 14.3%, driving the semiconductor-led Nasdaq surge.
Nvidia closed 2% higher as investors rotated back into the AI trade ahead of major big tech earnings.
Oracle's stock is trading just above its 52-week low as investors weigh the $7B collateral obligation alongside broader balance sheet concerns.
The Russell small-cap index gained 1.5% on the day, second only to the Nasdaq among major indices.
The S&P 500 rose 0.9% and the Dow added 0.7%, both lagging the Nasdaq and Russell on the day.
SpaceX will report its first post-IPO earnings on August 4th, triggering its unique insider lockup expiration mechanism.
Insiders can sell 20% of their eligible locked-up stock — totaling up to 911.5 million shares — on August 6th, the second full trading day post-earnings.
An additional 10% of locked-up shares could be freed if SpaceX closes at least 30% above IPO price for 5 of the 10 trading days heading into the report.
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