Finance

Elon Musk's SpaceX went public on June 12, 2026, marking the largest initial public offering in history with a total of $75 billion raised. Trading under the ticker SPCX, the stock surged more than 19% on its first day, ending the session above $160 and lifting the company's market capitalization to roughly $2.1 trillion.

Brent crude oil prices fell more than 3% to settle near $88 a barrel following signals that a draft proposal to end the conflict with Iran is in place. Markets are actively unwinding the war risk premium as expectations grow for the reopening of critical supply routes like the Strait of Hormuz.

The annual inflation rate in the U.S. accelerated to 4.2% in May 2026, its highest level since April 2023, primarily driven by a 23.5% jump in energy costs. While core inflation metrics showed a slight monthly moderation, persistent pricing pressures have led to expectations that the Federal Reserve may refrain from interest rate cuts in the near term.