TLDR

MARKET RECAP → The S&P 500 (VOO) and Dow Jones (DIA) hit new highs on Monday as investors looked ahead to the next wave of key corporate earnings reports.

SPACEX MAKES HISTORY WITH BOOSTER CATCH → 🚀 SpaceX’s Starship completed its fifth test flight, making history by successfully catching the booster with launch tower arms. The rocket continued to orbit the globe before landing in the Indian Ocean, marking a key step toward full reusability and prepping for future moon missions.

ELLIOTT CALLS FOR DECEMBER SPECIAL MEETING → 📊 Elliott Investment Management has launched a proxy fight for control of Southwest Airlines’ (LUV) board, seeking a December meeting and pushing to oust CEO Bob Jordan. The activist investor, holding an 11% stake, has reduced its board slate to 8 nominees and gained support from key shareholders.

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MARKETS

Today’s S&P 500 Heatmap

Notable Earnings This Week

TODAY’S TOP NEWS

SpaceX Makes History With Booster Catch

🚀 Successful Test Flight: SpaceX launched its fifth Starship rocket test, achieving a major milestone by catching the booster with launch tower arms—key for reusability.

🛰️ Mission Completion: Starship continued on, orbiting halfway around the world before safely splashing down in the Indian Ocean, marking another successful mission for SpaceX.

🌑 Future Focus: This test further prepares SpaceX for upcoming missions, including its crucial role in NASA’s Artemis program to return astronauts to the moon.

TODAY’S TOP NEWS

Elliott Calls for December Special Meeting

📊 Proxy Battle Begins: Elliott Investment Management has officially launched a proxy fight for control of Southwest Airlines’ (LUV) board, calling for a special meeting in December.

🧑‍💼 Board Shake-up: Elliott reduced its board nominee slate from 10 to 8 after Southwest downsized its board. The activist investor, holding an 11% stake, is also pushing to remove CEO Bob Jordan.

✈️ Stakeholder Support: Elliott is rallying shareholder support, with backing from major investor Artisan Partners. Southwest’s stock closed 1% lower on Monday.

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