AST SpaceMobile (ASTS) enjoyed a second leg up on Thursday. The communications firm gained 69.23% after Verizon Communications (VZ) committed to a $100 million deal. The former will supply satellite-internet-to-phone services.
On May 15, ASTS announced a deal with AT&T (T), sending the stock up from $2.00 to around $5.00. ASTS stock closed at $9.02.
In the bond market, watch out for iShares 20+ Year Treasury Bond ETF (TLT). The Bond fell below $90 for the first time since November 2023. Markets are bracing for persistent, sticky inflation to force the Federal Reserve to raise interest rates. Just six months ago, markets confidently expected at least five rate cuts.
In the automotive sector, Ford Motor (F) fell slightly. The U.S. firm is down by 3.79% YTD. Biden’s harsh tariffs against Chinese EV firms should help Stellantis (STLA) and General Motors (GM) more. Stellantis plans to sell an inexpensive Jeep EV. GM will launch the most affordable Chevy Bold in 2026.
Ford backed off in producing more F-150 Lightning and Mach-E EVs. Both models are too expensive for consumers to consider. Additionally, Ford loses too much money selling EVs.
Watch Retail Stocks
In Thursday morning trade, watch Best Buy (BBY) and Dollar General (DG) after they post quarterly results. After the market closes, Costco (COST), Gap (GPS), and Dell Technologies (DELL) will post results.
