What to Expect in Markets This Week: SpaceX Joins Nasdaq 100 Index; Second-Quarter Results Start to Arrive

SpaceX will join the Nasdaq 100 index this week, marking a rare addition of a major private company to the tech-heavy benchmark. The inclusion follows a structural shift allowing eligible private firms into the index, with the change set to take effect at market open Monday.

PepsiCo and Delta Air Lines kick off second-quarter earnings season this week, offering the first glimpse into corporate performance for the period ending June 30. PEP reports Thursday before the bell, while DAL releases results Wednesday morning. Both companies will set the tone for their respective sectors—consumer staples and airlines—as investors assess pricing power, demand trends, and margin pressures heading into the back half of 2024.

The SpaceX addition to QQQ will trigger automatic rebalancing across funds tracking the Nasdaq 100, though the company's private status means shares won't trade publicly. Index funds will gain exposure through a private placement structure, a first for the benchmark.