Finance

Elon Musk's SpaceX recently completed the largest initial public offering in history, with its shares surging more than 19% on their first day of trading. The company's valuation reached approximately $2.1 trillion, surpassing the market capitalization of major traditional firms like Exxon Mobil and Bank of America.

The yield on the 10-year U.S. Treasury note has fallen to its lowest level in a month, settling around 4.42% as geopolitical risks subside. This decline in yields follows the announcement of a deal to restore oil supply routes, providing some relief from recent inflationary pressures driven by high energy costs.

The University of Michigan's Consumer Sentiment Index rose to 48.9 in early June, exceeding economist expectations as falling gasoline prices provided immediate relief to household budgets. While sentiment remains historically low due to persistent inflation concerns, lower-income consumers showed the most significant improvement in outlook.