The Dow continues to decline following a selloff, with Oracle shares down 8% after disappointing earnings post an 80% rally in 2024. C3.ai saw a 5% increase after narrowing its quarterly loss and reporting a 29% revenue jump, aided by a partnership with Microsoft. Meanwhile, Nvidia faces pressure from an ongoing anti-monopoly probe in China, and Planet Labs shares fell nearly 7% after providing disappointing fourth-quarter guidance.
Space stocks surged this week, with gains of up to 41% for companies like Rocket Lab and Intuitive Machines, fueled by a "Trump-Elon trade" rally and positive third-quarter results. Analysts highlight a shift towards newer space firms as legacy players decline, driven by lower costs and increased investor interest in the sector's growth potential. The incoming Trump administration's focus on space is expected to sustain this momentum, benefiting companies like Rocket Lab.
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