AM Markets Need To Know: Switch funding round, JPM upgrades Tesla, and more

Stock index futures were mostly lower ahead of the key jobs report, leaving markets cautious. S&P Global said it will not relax index criteria, likely delaying SpaceX’s eligibility for S&P 500 inclusion. JPMorgan upgraded Tesla (TSLA.OQ), citing the company’s vertical integration of hardware and software, supporting a more bullish outlook for the stock. Separately, a cryptocurrency selloff has trimmed the value of Tesla’s Bitcoin holdings, adding a modest negative offset to the bullish dealer view. Overall, the note is a mixed but market-positive development for Tesla amid a cautious macro backdrop ahead of labor data.