Finance

Elon Musk's SpaceX launched the largest initial public offering in history, with its shares surging over 19% on the first day of trading. The debut pushed the company's valuation to approximately $2.1 trillion, exceeding the market caps of several major legacy corporations and boosting investor confidence in the aerospace and AI sectors.

In the first meeting led by new Chair Kevin Warsh, the Federal Reserve is expected to keep interest rates in the 3.50% to 3.75% range. While the central bank is currently on pause, persistent inflation levels reaching 4.2% in May have led some analysts to speculate that the committee may adopt a more hawkish stance later in the year.

The energy sector has outperformed the broader S&P 500 in 2026, gaining more than 20% since the start of the year as investors rotate away from high-valuation technology shares. Despite the recent drop in crude prices following the Iran deal, energy giants like Exxon Mobil and Chevron continue to drive market performance amidst broader sector divergence.