Shares of AST SpaceMobile (NASDAQ: ASTS) ignited a powerful rally, surging to new highs after the company announced a definitive agreement with a U.S. government prime contractor on July 18.

The Dow Jones Industrial Average surged 450 points, or 1%, and the S&P 500 moved up 0.7%, on course for a record high close.

Verizon Communications (NYSE:VZ) delivered an encouraging second-quarter performance, highlighted by healthy financial growth ...