Two key events this week could drive stock market swings: the Federal Reserve's policy meeting and the expected inclusion of SpaceX in major indexes. The Fed, under new Chairman Kevin Warsh, is widely expected to hold interest rates steady on Wednesday, but investors will watch for any shift in tone or forward guidance, especially after a strong jobs report recently pushed the S&P 500 lower on fears of prolonged high rates. Meanwhile, SpaceX could be added to the Russell 1000 as soon as five days after its IPO, triggering buying by ETFs such as the Vanguard Russell 1000 ETF and iShares Russell 1000 ETF, and it may join the Nasdaq-100 within 15 days, which would add it to the Invesco QQQ Trust. The high trading volume required for these index inclusions could amplify market movements.
Space Exploration Technologies Corp. Class A Common StockSpaceX's expected inclusion in Russell 1000 and Nasdaq-100 indexes will trigger ETF buying, boosting demand for its stock.