For: August 5, 2026
>>Ahead Of The Bell
(New York, NY) -- The opening bell rings this morning after stocks closed sharply higher on Wall Street yesterday. The Dow Jones Industrial Average and S&P 500 both notched new records as optimism grows that the Strait of Hormuz will be reopened. At the closing bell,the Dow Jones Industrial Average added 907 points to 54-085. The S&P 500 gained 136 points to 77-36. The Nasdaq rose 671 points to 26-584.
>>SpaceX Releases First Earnings Report As Publicly Traded Company
(Starbase, TX) -- SpaceX reported better than expected quarterly profit in its first report as a public company, but concern over massive spending on artificial intelligence sent the stock down more than six percent after-hours. The rocket company posted Q2 revenue of seven-point-eight-billion dollars, mostly from its Starlink internet service. But its xAI unit, which runs Grok, spent nearly 16-billion-dollars, the majority of SpaceX's capital expenditures. SpaceX ranks as one of the top ten largest companies in the world based on market cap.
>>Paramount Warner Bros Antitrust Trial
(Los Angeles, CA) -- A federal judge has set a March 2027 trial date in the antitrust lawsuit challenging Paramount's proposed merger with Warner Bros. Discovery. The date is later than Paramount requested and could prove costly, as the company is set to begin paying Warner Bros. Discovery shareholders seven-million dollars a day starting October 1st until the deal closes. A coalition of 12 state attorneys general argues the 111-billion dollar merger would reduce competition, while the Writers Guild of America has filed a separate lawsuit raising concerns about its impact on writers. Paramount maintains the merger would strengthen its ability to compete with major streaming companies and ultimately benefit consumers.
>>California Democrats Endorse Billionaire Tax Measure
(Sacramento, CA) -- California Democrats are officially backing a ballot measure that would tax the state's wealthiest residents to help fund healthcare. The state Democratic Party's executive board voted to endorse Proposition 40, which would impose a five-percent tax on the net worth of billionaires to help prevent healthcare cuts, hospital closures and layoffs. Supporters say the measure would protect essential services, while opponents, including Governor Gavin Newsom, some labor groups and business organizations, argue it could drive wealthy residents out of California and reduce long-term tax revenue.
