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Prominent Index Funds from Vanguard and BlackRock Now Hold Shares in SpaceX

• SpaceX shares tumbled in recent days after soaring in the first few sessions following the company's historic IPO.
• The iShares Core S&P Total U.S. Stock Market ETF and Vanguard's Total Stock Market ETF now include Elon Musk's rocket, connectivity and AI company among their holdings.
• The inclusion of SpaceX in index funds means that a wider swath of investors have exposure to the stock.

SpaceX's (SPCX) volatility could hit home for many investors—even for those who didn't buy a single share.

The newly debuted stock is down more than 25% from last week's highs, though it was recovering ground Tuesday despite a broad tech sector rout. Its performance will matter to a wider swath of investors than before because the stock was just included in major indexes and prominent funds that track them.

Vanguard's Total Stock Market ETF (VTI) and BlackRock's iShares Core S&P Total U.S. Stock Market ETF (ITOT) have modest weightings in SpaceX as of this week, according to their respective holdings information. Those funds bought the stock, mirroring indexes from the Center for Research in Security Prices and S&P Dow Jones, which were among the first wave to include it.

SpaceX's inclusion in major indexes means its performance will start to show up in funds that are often found in retirement accounts.

SpaceX's entry into the zeitgeist—it was the talk of the town in the months leading up to its record IPO—inspired major index providers to tweak their rules to fast-track the stock into their products. That will continue to ripple across the funds complex as others add it. FTSE Russell and MSCI are set to add it in the coming days.

If SpaceX keeps rising, investors won't mind. And it bodes well for their portfolios that major index inclusions tend to provide a bit of lift in the days leading up to the event, as funds that need to do so buy the stock. However, hot new stocks have a historical tendency to pop, and then fizzle in the first few years in the public market, and lag benchmarks.

For now, investors in index funds such as the Vanguard Total Stock Market and iShares Core S&P Total U.S. Stock Market will have to squint to notice SpaceX's influence, because the stock is just one of thousands of other holdings and makes up a fraction of a percentage point in terms of portfolio weight.

Funds tracking the Nasdaq 100, which will hold a relatively larger chunk of the stock, may see bigger hits, up or down. SpaceX could be added to the Nasdaq 100 as soon as early July.

After three straight sessions of losses, SpaceX shares were up 6% recently at around $164. They fell as low as $147 early in the session, dipping below their opening price of $150 on the first day of trading on June 12. The company priced its IPO at $135.

Episode 300 of the Investopedia Express podcast with Caleb Silver (June 22, 2026)

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As we near the mid-point of a tumultuous year, we give this market a health check with Jay Woods of Freedom Capital Markets. Plus, there’s a new Fed Chair in town, and Kevin Warsh is focused squarely on inflation and recreating the central bank through a series of task forces. And, investors keep riding just a few stocks to higher highs, and some are taking on a lot of margin debt to amplify their gains. What could go wrong?

• SpaceX shares finished Tuesday's session in the green after three straight days of losses.
• SpaceX shares dropped to new intraday low earlier in the session, before rebounding into positive territory.

It's been a wild ride for SpaceX's stock in the days since its debut, with Tuesday turning in another volatile session.

After plunging 5% to $147, the stock's lowest level since it opened trading at $150 earlier this month, shares of SpaceX (SPCX) rebounded to finish the day up 1% around $156. The reversal came as a tech sell-off that started Monday extended into a second day, dragging many of the market's biggest names lower.

Yesterday, SpaceX had tumbled 16% to close at $155, its lowest close since its blockbuster debut on June 12. It was the stock's third straight day of declines, after SpaceX rallied as high as $225 in its first three days of trading.

SpaceX's performance could be taken as a sign of how investors are feeling about new AI-related listings, as the company's debut marked one of several major AI-centric IPOs expected this year, along with Anthropic and OpenAI.

SpaceX announced a bond sale of an undisclosed size on Monday, and said it intends to use the proceeds to pay off some of its debts. The company said it had just over $100 billion in cash and cash equivalents on hand as of the end of last week.

SpaceX's relatively small share float and the speculative, long-term nature of some of its businesses could mean the stock may stay volatile for a while, some experts have warned. Joining major stock indexes, and the end of lock-up periods that would allow insiders to sell shares, could also become catalysts for big stock moves.

This article has been updated since it was first published to reflect more recent prices.

News of the day for June 23, 2026

Stock futures are pointing to steep declines for major indexes this morning as technology shares remain under pressure; chip and memory stocks are sharply lower ahead of the opening bell as the AI trade hits a roadblock; SpaceX shares bounced between losses and gains in premarket trading after hitting their lowest level yesterday since the day of the company's record IPO; Tesla's sales are recovering in Europe, but the stock is still getting caught up in the turn against tech stocks; and FedEx's latest quarterly results are due this afternoon. Here's what you need to know today.

Stock futures are sharply lower this as the tech sell-off that sent the S&P 500 and Nasdaq lower yesterday extends into today's trading. Futures tied to the benchmark S&P 500 and the tech-heavy Nasdaq were recently down 1.2% and 2.6%, respectively, while Dow Jones Industrial Average futures fell 0.4%. WTI crude oil futures were holding steady at $73.90 per barrel as officials from the U.S. and Iran continue negotiations to end the war, with the U.S. agreeing to temporarily lift sanctions on Iranian oil. Gold futures were down 1.4% to $4,145 an ounce, while bitcoin fell to $62,300 from a high of $65,500 yesterday. The yield on the 10-year Treasury note, which affects interest rates on loans, fell to 4.49% from 4.51% at yesterday's close.

The AI trade has hit its latest roadblock Tuesday, as stocks across the hardware and software industries slide. AI heavyweights including Nvidia (NVDA), Alphabet (GOOGL), Intel (INTC), Advanced Micro Devices (AMD) and Micron Technology (MU) are among the stocks sinking this morning. The iShares Semiconductor Index Fund (SOXX) was down nearly 6% in recent premarket trading, while the Roundhill Memory ETF (DRAM) tumbled 12%. AI stocks have been hot lately, recovering from a similar slump earlier this month amid investor concerns that this year's rally has driven some stocks too high, too fast.

SpaceX (SPCX) shares were bouncing between losses and gains this morning as the stock appears poised to continue its volatile run. Shares of Elon Musk's space exploration, connectivity and AI company have closed lower in each of the past three sessions after rising sharply in the first three days of trading following a record-setting IPO. On Monday, the stock fell 16% to close at its lowest level ever, and in premarket trading today the price briefly slipped below $150, which was its opening price on June 12, the first day of trading. SpaceX shares were recently down 1% at around $153.

Tesla's (TSLA) efforts to improve its sales in Europe look to be working, according to the latest data from the European Automobile Manufacturers’ Association. A total of 28,610 new Tesla vehicles were registered in the European Union and several other countries in May, double the number that were registered in May 2025, when a backlash to CEO Elon Musk's involvement in the Trump administration and the growth of Chinese brands were hampering Tesla's sales. The growth outpaced the 39% growth for all electric vehicle registrations in the region in May. Tesla is also contending with a report of a new federal investigation into its driver assistance software after a Texas driver said the software caused his Tesla to crash into a home, killing a person. Tesla shares were down more than 2% ahead of the opening bell, tracking the broader tech sector weakness.

Investors will get their first look at a slimmed-down FedEx (FDX) today, with the shipping giant's latest quarterly earnings report due after the closing bell. FedEx recently completed its spin-off of FedEx Freight (FDXF), which will release its first earnings report Thursday. FedEx is expected to report adjusted earnings per share of $5.90 on $23.98 billion in revenue, up 8% from last year. The company is also on the hunt for a new CFO, after its top finance executive stepped down at the start of the month. Shares of the package shipper, which have gained 40% since the start of the year, were little changed in premarket trading.

• Cerebras' first earnings report since its IPO is set to be released Tuesday afternoon, with traders anticipating a big move ahead for the AI stock.
• Several analysts recently launched coverage of the stock with bullish ratings, expecting it to benefit from growing demand for AI chips.

Cerebras Systems is set to report its first quarterly results as a public company after the closing bell Tuesday, with traders anticipating a big move in the AI chipmaker's stock.

Based on current options pricing, Cerebras (CBRS) shares are seen swinging up to 13% in either direction by the end of the week. A move of that magnitude from Monday's close around $224 could see shares rise as high as $254, or drag them below $195.

Cerebras shares have lost more than a third of their value from last month's highs on their first day of trading, though they're still up more than 20% from their IPO price of $185, after a volatile few weeks.

Tuesday's report will offer investors their first look at Cerebras' financials since the chipmaker's market debut.

Since the chipmaker's debut last month, analysts at several firms have launched coverage with bullish ratings for the stock, including Wedbush, UBS, and Morgan Stanley, expecting Cerebras to benefit from booming demand for AI chips.

The analysts also pointed to Cerebras' agreements with the likes of OpenAI and Amazon (AMZN) as evidence of its ability to attract high-profile clients in the space. "In our view these large contracts are necessarily the best proof points as to the inherent value of Cerebras's technology," Wedbush wrote.

The Wedbush analysts have a $270 price target for the stock, compared to $300 from UBS, and $250 from Morgan Stanley.

Cerebras is seen reporting an adjusted loss of 16 cents per share on an over 80% year-over-year jump in first-quarter revenue to $183.26 million, according to Visible Alpha consensus estimates.

• Micron is set to report earnings after the closing bell Wednesday, with traders expecting a big move in the stock following the results.
• Micron has been one of the S&P 500's top performers this year, and hit a record high earlier this week.

Micron's stunning performance this year could be about to get even better.

Though shares of Micron Technology (MU) were down about 1% in recent trading, deepening a pullback from Monday's record highs after a broader sell-off in tech shares Tuesday, they've still gained more than 260% year-to-date, making it one of the best-performing stocks in the S&P 500 this year.

Micron's quarterly earnings due after the closing bell today could also prove the catalyst for a rebound, with recent options pricing suggesting traders see the stock swinging up to about 12% in either direction through Friday. From Tuesday's close, that could drive the shares back up to $1,173, nearing Monday's all-time highs, or pull them down to about $930.

Micron's strength so far this year might have many investors wondering whether it still has room left to rise, or could be due for a greater pullback.

Analysts are broadly positive about the chipmaker's prospects for its third-quarter earnings report, and beyond, as they continue to see upside in pricing for the company's memory chips, amid an industrywide shortage and booming AI demand.

Wedbush recently said it expects Micron to report adjusted earnings per share of $22.84, from $19.16 previously, with revenue of $38.5 billion, from its prior estimate of $33.5 billion, citing higher industry pricing in the second quarter than what the company previously guided.

The firm's revised third-quarter expectations are higher than the Street average, with consensus estimates for adjusted EPS tracking at $21.05 on revenue of $36.28 billion, according to Visible Alpha data. Brokers tracked by the research firm are overwhelmingly bullish, with seven out of eight brokers with current ratings calling Micron a "buy."

Prices for Micron's memory chips are expected to jump 20% through the three months ending in September, which is represented in the analysts' revised fourth-quarter estimates that could likely prove "conservative," Wedbush wrote.

Jefferies in a Sunday report said the firm's memory prices are seen rising 40% to 50% in the third quarter, sequentially, and another 30% to 40% in the following quarter.

Boosted earnings expectations for 2027 drove Wedbush's price target to $1,300, more than double its previous target of $550. The firm's $1,300 price target implies upside of about 24% from Tuesday's close, higher than the consensus around $1,248, per brokers tracked by Visible Alpha data.

This article has been updated since it was first published to reflect more recent prices and analyst estimates.

• New Fed Chair Kevin Warsh is an admirer of Alan Greenspan, who died Monday.
• Warsh’s leadership style echoes Greenspan in several important ways, including his deliberate lack of forward guidance about the Fed’s monetary policy moves.
• Warsh faces a similar economic situation to the one Greenspan faced when he took office in 1987, with inflation running roughly at the same rate.

Alan Greenspan may be gone, but his economic legacy is alive and well—the Federal Reserve’s current chair has set out to emulate the legendary central banker in several important ways.

Kevin Warsh’s chairmanship began in May. In that short time, he has already established several policies that echo those of Greenspan, who died on Monday at the age of 100.

Warsh has frequently praised Greenspan, who guided monetary policy during a period of growing prosperity and low inflation in the U.S. economy—a period that came to a crashing end in 2008 with the Great Recession.

Warsh has big shoes to fill in seeking to emulate Greenspan, who went down as one of the most important figures in shaping the economy in the late 1980s through early 2000s.

Indeed, Greenspan was the only former Fed chair Warsh mentioned by name in his swearing-in ceremony in Washington last month.

“I intend to fill the role of chairman with energy and purpose just the way Chairman Greenspan did, faithful to the mission and the very best traditions of the Fed,” Warsh said.

Warsh’s communication style is a throwback to the Greenspan era in its deliberate lack of “forward guidance” to financial markets about what the Fed plans to do in the future.

In his first meeting of the Federal Open Market Committee last week, Warsh cut roughly half the words from the Fed’s policy statement compared to previous versions, and removed all forward guidance from it. He also declined to make economic projections, although he didn’t stop his fellow FOMC members from doing so.

Greenspan was famous (or infamous) for making cryptic statements that kept Fed-watchers guessing.

“Since I've become a central banker, I've learned to mumble with great incoherence,” Greenspan said in 1988. “If I seem unduly clear to you, you must have misunderstood what I said.”

Economists have noted the similarities between the two Fed chairs.

“Warsh’s philosophy on Fed communication seems to more closely resemble that of former long-time Chairman Alan Greenspan, who unfortunately passed away earlier today,” Brian Wesbury, chief economist at First Trust, wrote in a commentary. “Not Greenspan’s elegant and winding prose, but Greenspan’s unwillingness to hint strongly about what the Fed would do next.”

Warsh also echoed Greenspan in the FOMC statement and press conference when he signaled the Fed’s determination to wrestle inflation down to a 2% annual rate.

Warsh emphasized that objective over the other half of the central bank’s dual mandate from Congress, which is to keep employment high. In the early years of Greenspan’s chairmanship, he earned a reputation as an inflation “hawk,” raising the fed funds rate to counteract inflation that was too high for comfort.

Interestingly, inflation, as measured by “core” personal consumption expenditures, was nearly the same in April 2026 (3.3% over 12 months) as in August 1987, when Greenspan took office (3.4%).

• FedEx's next earnings report is due Tuesday afternoon, with traders anticipating its stock could swing up to about 7% in either direction by the end of the week.
• FedEx completed the spin-off of its freight business into a separately traded company late last month.

FedEx is scheduled to report earnings after the closing bell Tuesday, with the shipping giant's stock seen potentially climbing to a fresh high following the results.

Based on current options pricing, FedEx (FDX) shares are seen swinging up to about 7% in either direction by the end of the week. A move of that size from Monday afternoon's level around $330 could see the shipping giant's stock rise to a record high above $352, or drag it back below $309.

FedEx shares have gained more than 40% since the start of the year, as investors cheered a rosy outlook and the spin-off of FedEx Freight (FDXF), which started trading as a separate company late last month and will report earnings Thursday.

FedEx's earnings Tuesday could offer investors a fresh look into its newly slimmed-down operations after the spin-off of its freight business.

Bank of America analysts recent lowered their price target for FedEx to $376 from $440 following the spin-off to account for the removal of the freight business, and said investor attention will likely be on where FedEx still has room to cut costs. Investors may also be watching for any updates on the company's search for a new CFO, after John Dietrich stepped down earlier this month.

Analysts expect FedEx to report adjusted earnings per share of $5.90 on a nearly 8% year-over-year jump in revenue to $23.98 billion for its fiscal fourth quarter, according to estimates compiled by Visible Alpha.

Analysts are largely bullish on FedEx's stock, with all but one of the 10 analysts with current ratings tracked by Visible Alpha calling the stock a "buy," along with one neutral rating. Their average target of $410 would suggest upside of nearly 25% from Monday's level.

SpaceX (SPCX) shares have tumbled to their lowest price since the day of the company's historic IPO.

Shares of Elon Musk's space exploration, connectivity and AI company fell as much as 5% in early trading Tuesday, putting the stock below the $150 level it opened at on its first day of trading on June 12. The stock was down 1% recently at around $153. SpaceX shares fell 16% on Monday, their third straight losing session, and are down more than 30% from the record high hit a week ago.

SpaceX shares charged out of the gate when they debuted, ending their first day of trading nearly 20% above their IPO price of $135. The stock continued to soar early last week, briefly making the company more valuable than e-commerce giant Amazon (AMZN), nearing a market capitalization of $3 trillion. Shares faltered on Wednesday, their first down day on public markets, and the pressure continued the following day ahead of Friday's break for the Juneteenth holiday. SpaceX now has a market cap of just above $2 trillion.

SpaceX on Monday announced its first bond sale. The company did not disclose the size of the offering, but said it plans to use the proceeds to “repay the outstanding borrowings under its bridge loan facility in full.” SpaceX took out the loan of up to $20 billion earlier this year as part of its merger with Elon Musk’s xAI startup.

Experts say SpaceX’s small float and the speculative nature of its valuation are reasons to expect the stock to remain volatile in the coming months.

Shares could catch an updraft from the stock’s entry into major stock indexes, with some expected to add it as early as today. Selling pressure could pick back up when post-IPO lock-up periods preventing insiders from selling their stock begin to expire in the coming months. 

UPDATE: This article has been updated with recent stock price information.

• Micron Technology led other AI hardware stocks higher to start the week, ahead of the memory chipmaker's earnings.
• Morgan Stanley analysts on Monday said expectations are rising for Micron's results, which they see topping consensus projections.

AI hardware makers' stocks are off to a strong start this week, as anticipation builds ahead of results from Micron Technology.

Shares of Micron (MU), which is set to report earnings after the closing bell Wednesday, popped over 6% to new highs in early trading, making it one of the best-performing stocks in the S&P 500 and Nasdaq, on a day when the indexes lost ground.

Data storage firms Sandisk (SNDK) and Seagate Technology (STX) also climbed to fresh records, along with Intel (INTC) and Advanced Micro Devices (AMD). The Roundhill Memory ETF (DRAM) and Philadelphia Semiconductor Index (SOX) were up 5% and 1% recently, after hitting new highs.

Monday's gains could be taken as an encouraging sign for Micron and other firms perceived as "pick-and-shovel" plays for the AI trade.

Morgan Stanley analysts on Monday said expectations are rising for Micron's results, which they see topping consensus projections, as a global shortage of memory parts persists. Wall Street analysts surveyed by Visible Alpha see Micron reporting $36.15 billion in fiscal third-quarter revenue, nearly quadrupling from a year ago, with adjusted earnings per share of $20.95, up from $1.91 last year.

Memory and data storage stocks have been some of the market's strongest performers in recent months, with Micron among the S&P 500's top three gainers this year, amid a boom in demand for the hardware to power AI data centers.

With Monday's gains, Micron shares have more than quadrupled in value since the year began and are up more than 850% over the last 12 months.