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The Federal Communications Commission’s first spectrum auction after a four-year hiatus. brought in upwards of $3.5 billion in total, the agency said.

A number of stocks fell in the afternoon session after a stronger-than-expected May jobs report fueled concerns that the Federal Reserve will keep interest rates elevated.

EchoStar Corp (NASDAQ:SATS) shares are gaining Wednesday. Federal regulators cleared two large transactions that allow the company to transfer a significant block of its spectrum holdings to SpaceX and AT&T. Here’s what you should know. EchoStar shares are powering higher. Why is SATS stock surging? The approval removes the final regulatory barrier and confirms that EchoStar can now complete both sales, which together represent more than $40 billion in deal value according to the FCC. FCC Approv

June S&P 500 E-Mini futures (ESM26) are up +0.25%, and June Nasdaq 100 E-Mini futures (NQM26) are up +0.79% this morning, buoyed by gains in technology stocks, while investors gear up for crucial U.S. producer inflation data and the highly anticipated Trump-Xi summit.

Micron, Nvidia, and Qualcomm rise as investors pile back into chip stocks, while EchoStar surges after the FCC approves a spectrum sale.