Finance

Energy prices fell roughly 4% after planned military strikes were called off, with WTI crude dropping to approximately $87.50 per barrel. This retreat in energy costs led to a simultaneous decline in Treasury yields, with the 10-year note falling roughly 10 basis points to hover near 4.47% as inflation fears temporarily cooled.

SpaceX has officially lodged its prospectus for a Nasdaq listing, targeting a valuation between $1.75 trillion and $2 trillion. Raising an estimated $75 billion, the offering is poised to become the largest IPO in history, potentially debuting as the sixth-largest company in the United States.

Chipmakers saw significant gains, with Micron and Intel rising roughly 11.7% and 9.3% respectively due to renewed optimism in the sector. However, software giants Oracle and Adobe faced downward pressure, with Oracle falling 8.5% as the market scrutinized the high capital costs associated with building out AI cloud infrastructure.