派杰投资：对火箭实验室公司启动覆盖研究，给予中性评级；目标价83美元。

On Wednesday SpaceX stock slipped below its IPO price for the first time, little more than a month after the company’s record-breaking listing. The shares had peaked at $225.64; the IPO raised about $85.7bn and valued the company at roughly $2.1trn at the close of its first trading day. Investors who bought at the IPO price are now showing unrealized losses, a development that could test market confidence in the stock.

FED'S BEIGE reports the U.S. labor market broadly expanded. Of 12 Fed districts, five saw job gains (ranging from mild to moderate-to-meaningful), seven were essentially unchanged; only one district showed an improvement versus the prior report. Employment gains were concentrated in manufacturing, construction and retail, while technicians and skilled trades remain hard to hire; a few districts reported limited job declines. Wages largely rose modestly to moderately, with some pay increases driven by competition for skilled labor. Several districts noted firms are increasingly using AI for candidate screening or to raise employee productivity.