SpaceX Recovery Would Likely Drive Market Sentiment

Dow Jones08-06

1002 GMT - A recovery in SpaceX stock could signal a broader uplift in market sentiment, XTB's Kathleen Brook writes. "SpaceX is worth watching closely today as it was the worst performer on the Nasdaq 100 on Wednesday," Brook says. "If it recovers it could be a sign of stronger overall sentiment for the index." Some company insiders will be allowed to sell SpaceX shares for the first time Thursday. Investors expect that to bring extra supply to the market, potentially adding to volatility. SpaceX shares nudge up 0.9% premarket to $109.28 after falling nearly 14% Wednesday. The stock trades well below its initial public offering price of $135.

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