CNBC's Seema Mody reported that SpaceX's inclusion into the Nasdaq 100 could be announced as early as tonight, citing two sources. The potential addition would mark a significant milestone for the private space company, bringing it into one of the most closely watched stock market indices.

The report, shared via social media, suggests that the decision is imminent. The Nasdaq 100 is composed of the 100 largest non-financial companies listed on the Nasdaq stock exchange, and inclusion often leads to increased visibility and trading volume for the selected firms.

SpaceX, founded by Elon Musk, has grown rapidly in recent years, achieving numerous milestones in space exploration and satellite internet services. Its potential inclusion in the index reflects its rising prominence in the tech and aerospace sectors.

The announcement, if confirmed, would be closely watched by investors and market analysts. The Nasdaq 100 is rebalanced periodically, and changes to its composition can have significant implications for index funds and ETFs that track it.

Further details are expected to emerge following the official announcement.

A fresh burst of selling in chipmakers and artificial-intelligence names dragged U.S. equities into mixed territory Friday, sending the tech-heavy Nasdaq 100 lower while a value-oriented Dow Jones clung to gains near record highs. Investors continued to question whether the industry’s massive AI spending can justify its lofty valuations, leading to a sharp rotation out of hardware and into defensives like software and gold.

Market Performance and Sector Rotation

The S&P 500 was roughly flat at 7,363, up about 0.1%, while the Dow Jones Industrial Average added around 61 points, also up 0.1% to near 51,982. The Nasdaq 100 underperformed, falling 0.6% to about 29,253 as the AI trade wobbled. Gold added 1.3% to around $4,081 an ounce, clawing back some ground despite remaining down roughly 8% for the month.

Technology was the clear laggard, with the chip rout deepening across the complex. The VanEck Semiconductor ETF (NASDAQ: SMH) sank 3.4%, marking the worst-performing industry fund on the screen. By contrast, money rotated into software and defensives: the iShares Expanded Tech-Software Sector ETF (NYSE: IGV) jumped 3.2%, the VanEck Gold Miners ETF (NYSE: GDX) climbed 3.1%, and the iShares Biotechnology ETF (NASDAQ: IBB) gained 2.6%.

Chipmakers and AI Hardware Under Pressure

The epicenter of the selling was ON Semiconductor Corp. (NASDAQ: ON), which cratered 21% after agreeing to acquire Synaptics Inc. (NASDAQ: SYNA) in an all-stock deal valued at roughly $7 billion. The damage spread across chip and AI-hardware names, extending pressure that has built since Broadcom’s recent AI-revenue guidance disappointed.

Optical and AI-networking suppliers Lumentum Holdings Inc. (NASDAQ: LITE) and Corning Inc. (NYSE: GLW) slid 8.4% and 7.8%, respectively, dragged lower in sympathy with the AI-infrastructure unwind. Memory names also stayed under pressure, with Micron Technology Inc. (NASDAQ: MU) reversing part of Thursday’s earnings-driven surge as worries built that AI infrastructure spending could slow. Western Digital Corp. (NASDAQ: WDC) fell 10.3%.

Oil Prices Tumble

West Texas Intermediate crude tumbled 4.7% to around $68.55 a barrel, leaving the U.S. benchmark down nearly 23% for the month. This marks the worst monthly performance since March 2020 as traders look past the Hormuz headlines toward signs OPEC is restoring Iraq’s pre-war production allocations.

Health care led the rebound, powered by Moderna Inc. (NASDAQ: MRNA), which surged 13.8% – the day’s biggest gainer – after its annual Science Day presentation detailed a broadening pipeline of mRNA therapies extending well beyond vaccines into oncology and rare diseases. AST SpaceMobile Inc. (NASDAQ: ASTS) climbed 9.7% amid continued optimism around its Japan regulatory clearance and an upcoming satellite launch.