Communications Stocks Slip as Treasury Yields Climb

SpaceX shares managed to break a bruising seven-session losing streak, a period that saw the stock shed 21% of its value. Despite the sharp decline, Macquarie analysts led by Paul Golding suggested the downturn created a tactical buying opportunity. In a note to clients, Golding argued that the fundamental narrative surrounding the company remains intact despite the recent sell-off.

Beyond market movements, industry pressures have extended into the political sphere. A federal judge unsealed a letter on Monday revealing that the Trump administration had sought phone records linked to relatives of New York Times reporters. The effort, which aimed to identify the journalists' confidential sources, underscores the ongoing friction between federal authorities and major news organizations.