U.S. stocks on the move: Royal Caribbean Cruises, SpaceX
SPY•Wall Street’s main indexes fell after President Donald Trump rejected an Iranian proposal to end the conflict, sending crude prices higher and reviving inflation worries. Royal Caribbean shares rose after a Deutsche Bank upgrade, while SpaceX shares gained after Starship reached orbit despite an engine issue.
1. Indexes fall
At 11:30 a.m. EDT, the Dow was down 0.73%, the S&P 500 fell 0.83% and the Nasdaq Composite declined 0.96%. Crude prices rose after Trump rejected an Iranian proposal to end the conflict, reviving inflation worries and pushing Treasury yields higher.
2. Notable stock moves
Royal Caribbean shares rose after Deutsche Bank upgraded the stock to “buy.” SpaceX shares gained after Starship reached orbit despite an engine issue. Nvidia advanced 2.2% after boosting its share buyback by $150 billion, while Snowflake fell after plans for a $3.5 billion zero-coupon convertible debt sale.
