Business
Momentum and Small-Caps Lead Market Amid Big IPO
It’s fitting that the largest IPO ever debuted on a day that Wall Street was back chasing momentum stocks.
The S&P 500 was up 0.5%. The Nasdaq was up 0.4%. The Dow was up 384 points, or 0.8%. SpaceX stock was up 27% to $170.88 in its debut so far, which puts it right around TSMC among the top seven companies by market cap.
The top exchanged-traded funds focused on stocks with particular characteristics, or factors, were mostly momentum, risk, and growth focused on Friday.
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