Finance

Space Exploration Technologies Corp. debuted on the Nasdaq under the ticker SPCX, marking one of the largest initial public offerings in history. Shares surged approximately 19% from their initial pricing on the first day of trading, reflecting robust investor appetite for established leaders in the aerospace and artificial intelligence sectors.

U.S. government bond yields saw a notable decline as Brent crude oil prices dropped by over 3% on hopes of renewed global supply. The benchmark 10-year Treasury yield fell to approximately 4.48%, effectively erasing some of the upward pressure sparked by recent hot inflation data.

The Consumer Price Index recently accelerated to a three-year high of 4.2%, primarily driven by energy costs and geopolitical shocks. Consequently, economists and market participants have largely shifted expectations toward the Federal Reserve holding interest rates steady at 3.50%-3.75% for the remainder of 2026.