Elon Musk solidified his control over Tesla, exercising options to boost his voting power to 20%. Following the recent SpaceX public offering, Musk converted rights to roughly 300 million shares from his 2018 compensation package. While these shares grant immediate voting authority, they remain locked until 2028 under the terms of an April agreement.

Defense contractors faced a starkly different reality, retreating as investors weighed the implications of the Iran deal alongside potential restrictions on stock buybacks and dividends. Heightened scrutiny of European NATO allies further dampened sentiment in the sector. Meanwhile, industrial heavyweights are bracing for leaner times; Evonik Industries announced plans to eliminate 3,200 positions to combat rising competition. Volkswagen echoed these concerns, accelerating its own restructuring efforts to mitigate the impact of trade barriers and persistent geopolitical friction.