Friday was a solid session that staved off early weakness to finish higher, led by two Materials (XLB) names, semiconductors, equipment, memory names, and optical darlings.

All Systems Go

There was a lot of speculation that retail investors would engage in excessive selling to participate in the SpaceX (SPCX) initial public offering (IPO). While there certainly was a fair amount, the broader market held up well on Friday.

When the jobs report came in better than expected, a day after Broadcom (AVGO) spooked investors, the market fell out of bed. The ‘bears’ cheered, and the financial media provided a bullhorn to announce once again that the bull market was finished.

Investors heard something different: buy the dip.

SpaceX

Retail loves SpaceX, there is no doubt, but there are other names worth showing some affection.

Congratulations, Elon

SpaceX is a space company, and the not-so-secret sauce is Elon Musk. The shares trade hands at a Musk premium.

The stock isn’t worth as much as the name suggests, but leaped and forged ahead on ‘day one’ of trading, and it will match the hype at some point.

Congratulations, New York Knicks

It's been a long time coming – but the Knicks pulled it off in an impressive fashion.

Special shout-out to Brunson.

Congratulations (and belated happy birthday), President Trump

President Trump announced that a deal with Iran has been reached. The market erupted in joy and relief.

Today’s Session

The hottest news of the morning, aside from geopolitical events, has come out of Asia.

New power architecture for Vera Rubin could arrive in the third quarter, which is earlier than experts expected, according to Taiwan media.

These are monumental developments that set in motion a chain reaction of opportunities. 

China is ready to release Indium Phosphide (InP), which is critical for optical components and needed to power the AI revolution.

It's all about momentum – even if you are uncomfortable, it's the best way to make money right now.

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