The Nasdaq 100 is set for its quarterly rebalance, and SpaceX affiliate SPCX could see its index weight rise as more shares become freely tradable after lockups. The free float has increased to nearly 30% from about 10% after the IPO, which could lift the weighting from 1.25% to 2.25% and prompt passive buying by index funds and ETFs. SPCX shares are currently fluctuating between $135 and $150.

Escalating tensions in the Middle East have pushed international oil prices close to $100 a barrel after a new round of attacks in Saudi Arabia by Yemen’s Iran-backed Houthis. U.S. stock indexes fell as investors worried that higher energy costs could intensify inflation. Markets are waiting for key inflation data due later this week that could influence Federal Reserve rate decisions. The ongoing U.S.-Iran standoff is still seen as a key factor for market stability and energy prices.

U.S. stocks opened mixed on September 8, with the Dow down more than 300 points while the S&P 500 was roughly flat and the Nasdaq edged higher. Renewed tensions in the Middle East pushed oil prices to their highest level since late July. Investors are also watching for key U.S. inflation data due later this week.

GE Aerospace said it will buy key industry supplier CPP for nearly $12 billion to strengthen its casting production capacity and tighten control over its supply chain. Following the announcement, GE shares rose. The acquisition marks a major step in GE Aerospace’s push toward vertical integration, aimed at securing access to critical parts and improving operational efficiency.

GameStop reported fiscal second-quarter net income of $298.7 million, or 51 cents per share. Adjusted earnings were 27 cents per share, excluding one-time items. Revenue for the quarter was $790.2 million.

SpaceX (SPCX) drew about $7.27 billion in institutional inflows over the past 12 months, with 108 institutions increasing their holdings. K5 Global Advisor LLC disclosed the largest position at 38.6 million shares valued at about $6.59 billion. Based on the ownership trend, the market expects SpaceX’s valuation could rise to $3 trillion to $3.7 trillion, implying a share-price range of $225 to $280.

S&P Dow Jones said it will add Bloom Energy to the S&P 500 after the company’s second-quarter revenue topped $1 billion for the first time. Management lifted its full-year revenue outlook to $3.9 billion to $4.2 billion on accelerating data center deliveries. The company also expanded its project financing framework from $5 billion to $25 billion.

ABM Industries reported fiscal third-quarter net income of $49.7 million, or $0.84 per share. Adjusted earnings came in at $1.04 per share, topping the $1.01 consensus from three analysts surveyed by Zacks. Revenue totaled $2.32 billion, above the $2.3 billion estimate. The company forecast full-year earnings of $3.95 to $4.10 per share.