Welcome to Markets Desk, here's what's moving your money this Friday.
Gold is on track for a weekly loss, and the culprit is the same one that's been rattling portfolios all year — Middle East tensions. Escalating hostilities between the US and Iran are stoking inflation fears, which in turn keeps the pressure on rate expectations. When traders price in rates staying higher for longer, the opportunity cost of holding gold rises, and the metal gives ground.
Shifting to equities, Raymond James just set the highest price target on Wall Street for SpaceX stock at eight hundred dollars per share, implying upside of roughly four hundred twenty five percent from current levels. This comes as the quiet period following SpaceX's private market activity expires, finally allowing sell-side analysts to issue formal equity research on the company. That's a significant moment for a firm of this scale entering mainstream analyst coverage.
And over in tech, Jefferies is urging investors to think carefully about where AI spending actually lands first. The veteran strategist's argument is straightforward — pick and shovel names, the suppliers and infrastructure plays, collect hyperscaler capital expenditure dollars upfront, while the hyperscalers themselves could wait years before knowing whether their massive bets on AI actually generate returns.
That's the tape. Markets Desk, signing off the floor.
