Money
Richard Branson races Bezos to space…literally
The space race between billionaires Jeff Bezos and Richard Branson is heating up.
Virgin Galactic announced on Thursday that the space tourism company will attempt to launch its next test spaceflight on July 11, carrying founder Sir Richard Branson.
Branson is aiming to beat fellow billionaire Jeff Bezos to space, as the latter plans to launch with his own company, Blue Origin, on July 20.
“After more than 16 years of research, engineering, and testing, Virgin Galactic stands at the vanguard of a new commercial space industry, which is set to open space to humankind and change the world for good,”
Branson said in a statement
Following the announcement, shares in Virgin Galactic skyrocketed 20 percent during after-hours trade.
The mission will be Virgin Galactic’s fourth test spaceflight to date and its first mission with a crew of four onboard, as the company launched its most recent spaceflight, on May 22, with just two pilots.
“I’m honored to help validate the journey our future astronauts will undertake and ensure we deliver the unique customer experience people expect from Virgin.”
Branson stated
Alongside Branson will be three Virgin Galactic mission specialists: Chief astronaut instructor Beth Moses, lead operations engineer Colin Bennett, and government affairs VP Sirisha Bandla. Virgin Galactic pilots Dave Mackay and Michael Masucci will fly the company’s VSS Unity spacecraft.
Virgin Galactic said it will livestream the spaceflight for the first time, a feed that will be available on Twitter, YouTube and Facebook.
Money
Markets tumble as Trump tariffs, Greenland rhetoric and Europe backlash collide
U.S. stocks plummet over 800 points amid renewed tariff threats and political tensions from Trump, sparking global trade concerns.
U.S. stocks plummet over 800 points amid renewed tariff threats and political tensions from Trump, sparking global trade concerns.
U.S. equities took a sharp hit as markets reacted to renewed tariff threats and heightened political rhetoric from President Donald Trump. The Dow plunged more than 800 points, with the S&P 500 and Nasdaq also sliding as investor nerves rattled risk assets.
The sell-off highlights growing concern around global trade tensions and geopolitical uncertainty, with markets struggling to price in what comes next for U.S. economic leadership and policy direction.
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Money
Gold hits record highs as investors flee risk
Gold surges amid global uncertainty, with February futures rising 1.71% to $4,674.20 per ounce, signaling safe-haven demand.
Gold surges amid global uncertainty, with February futures rising 1.71% to $4,674.20 per ounce, signaling safe-haven demand.
Gold is shining brighter than ever as investors flock to safe-haven assets amid global uncertainty. U.S. gold futures for February delivery jumped 1.71% to $4,674.20 per ounce, while spot gold rose 1.6% to $4,668.14.
The surge comes as geopolitical tensions continue to worry traders, prompting a rush into metals perceived as stable and secure. Analysts say gold is proving its status as the ultimate hedge during turbulent times.
Investors are closely watching markets as gold sets new benchmarks, signalling growing caution across the financial landscape.
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Money
Markets edge higher as 10-year yields hit new highs
Major stock indices rise slightly; 10-year Treasury yield hits 4.23% amid Fed Chair speculation, affecting small and mega-cap stocks.
Major stock indices rise slightly; 10-year Treasury yield hits 4.23% amid Fed Chair speculation, affecting small and mega-cap stocks.
All major stock indices are starting the week slightly higher, giving investors cautious optimism. Analysts are keeping an eye on movements in small caps and mega-cap tech stocks amid these early gains.
The yield on the 10-year Treasury note has climbed to 4.23%, the highest since last September. This follows Kevin Warsh emerging as the frontrunner for the next Federal Reserve Chair, sparking speculation on future monetary policy.
Rising yields could trigger a pullback in small-cap stocks, while investors may pivot toward mega-cap tech, expected to deliver strong earnings growth. Overall, the market is likely to see a neutral to slightly bearish trend next week due to overbought conditions.
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