Space Exploration Technologies Corp., or SpaceX, won a $178 million NASA contract to provide launch services for the first mission to Jupiter's moon Europa. The mission, called Europa Clipper, will launch in October 2024 on a Falcon Heavy rocket from the NASA's Kennedy Space Center in Florida, NASA said. The goal is to "conduct a detailed survey of Europa and use a sophisticated suite of science instruments to investigate whether the icy moon has conditions suitable for life." Privately held Space X is led by Tesla Inc. Chief Executive Elon Musk. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
The Dow Jones Industrial Average closed above the 35,000 milestone for the first time Friday as the blue-chip gauge and other major indexes ended the week on a strong note, logging record finishes. The rally capped a week that began with a heavy selloff that saw the Dow post its biggest one-day drop since October, with the bounce attributed to easing worries about the economic impact of the spread of the delta coronavirus variant and upbeat corporate earnings. The Dow rose around 238 points, or 0.7%, to end near 35,062, according to preliminary figures. The S&P 500 jumped around 44 points, or 1%, to close near 4,412, while the Nasdaq Composite advanced around 152 points, or 1%, ending near 14,837.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
Shares of NanoVibronix Inc. more than tripled in very volatile and active afternoon trading Friday, after the company pointed out an upbeat report regarding its treatment for urinary tract infections. The stock was up 204% before the latest volatility trading halt, as volume of 58.8 million shares compared with the full-day average of about 204,000 shares. The stock has so far been halted 13 times for volatility, all after 1:20 p.m. Eastern. The company said "The Journal of Medical & Surgical Urology" is publishing an article with "overwhelmingly positive" findings from a study of patients that used its UroShield product in real world settings. "As we would expect, the patient experiences in the study were statistically significant, with all responding patients reporting that our device was simple, easy to use and materially benefitted them," said NanoVibronix Chief Executive Brian Murphy. The company said the peer-reviewed publication has been submitted to the National Institute for Clinical Excellence. The stock has gained 44.3% over the past 12 months, while the S&P 500 has advanced 36.3%.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
Oil futures edged higher on Friday, with prices shaking off a steep loss on Monday to end the week with a gain. Oil prices had plunged in the early part of the week on "concerns that rising global delta variant infection rates could undermine the economic rebound," or slow it down, said Michael Hewson, chief market analyst at CMC Markets UK. These worries haven't gone away, but even with the new OPEC+ agreement to raise output, there are still "residual concerns" that the market "could see supply struggle to keep up with demand, hence the recovery in prices heading into the weekend," he said. West Texas Intermediate crude for September delivery tacked on 16 cents, or 0.2%, to settle at $72.07 a barrel on the New York Mercantile Exchange. For the week, prices based on the front-month contract prices rose 0.7%, according to Dow Jones Market Data.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
PropertyGuru Pte. Ltd. announced an agreement that will take the Southeast Asia property technology company public, through a merger with special purpose acquisition company (SPAC) Bridgetown 2 Holdings Ltd. that will value the combined company at $1.35 billion. Bridgetown 2's stock rose 1.0% in afternoon trading. The deal is expected to provide $431 million of gross proceeds. After the deal closes, which is expected to occur by the end of July 2021 to mid-August 2021, the combined company will be listed on the NYSE. Bridgetown 2 was formed by Pacific Century Group and Thiel Capital LLC. "This process of becoming a public company will provide us with greater financial resources to do what we do best - helping people find, finance and own their homes in an efficient and transparent manner," said PropertyGuru Chief Executive Hari Krishnan. Bridgetown 2's stock, which started trading on Jan. 26, has slipped 1.3% over the past three months while the Renaissance IPO ETF has eased 1.7% and the S&P 500 has gained 5.5%.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.