Finance

The landmark IPO of Elon Musk’s SpaceX fueled broad investor optimism, ending its debut with a valuation exceeding $2 trillion. The company's successful launch on the Nasdaq has established a new benchmark for other highly anticipated tech offerings expected later this year.

Global crude prices saw sharp declines of nearly 5% following news that the Strait of Hormuz could reopen to oil tankers as early as this week. West Texas Intermediate futures fell to approximately $80 per barrel, marking their lowest levels since the outbreak of regional conflict in early March.

U.S. Treasury yields slipped across the curve as the preliminary peace agreement led investors to reconsider the trajectory of federal interest rate hikes. The benchmark 10-year note yield fell to a one-month low near 4.42%, reflecting expectations that easing energy costs will mitigate broader inflationary pressures.