Markets Close Quarter as SpaceX Headlines Index Shake-Up

SpaceX Set to Enter Nasdaq-100

The biggest index story of the day: Elon Musk's SpaceX is set to join the Nasdaq-100. The move would add the private space company to one of the world's most-watched benchmarks. TMUS and CHTR are among the names affected by related rebalancing chatter. CHTR already carries 26% SI % of FF — one of the highest in large-cap media — and took a further blow as Citigroup slashed its target by $40 to $190 today.

Nike and the Earnings Test

NKE reports Q4 fiscal 2026 results after the close today. JP Morgan cut the stock to Hold and lowered its target to $47. Analysts want answers on tariffs and China demand. Options activity is building, with active expiries running through September.

STZ also reports today. Constellation Brands faces scrutiny on beer volumes after a weak prior quarter. GIS follows on Tuesday.

Comcast Spike Turns Heads

CMCSA jumped sharply after investor Jenny Harrington announced live on CNBC that she had bought the stock. She also disclosed a position in NEE. Short interest in Comcast sits at just 2.56% of float — not a squeeze story, but the move drew options attention ahead of a July 2 expiry.

Short Sellers Stay Active

YMM (Full Truck Alliance) saw short interest surge 46% in a week to 2.7% of float. Bears are shifting into freight logistics names. Meanwhile, the Vanguard S&P 500 Growth ETF VOOG saw SI plunge 26% in a single day — reversing a week-long doubling of positions.

European Macro Watch

European gas storage is running dangerously low heading into winter, flagged by the FT as a 15-year low. The BIS also warned today that AI "exuberance" risks ending in a prolonged investment bust — adding a cautionary note to tech valuations as the second quarter closes.