Finance

Elon Musk's rocket manufacturer, SpaceX, successfully launched its initial public offering on the Nasdaq under the ticker SPCX, closing its first trading day up 19% at $160.95. The debut established SpaceX as the sixth most valuable U.S. public company with a market capitalization of approximately $2.1 trillion. The offering, which raised $75 billion, is the largest IPO in history and contributed to Musk becoming the world's first trillionaire.

U.S. Treasury yields experienced a modest uptick on Friday, with the 10-year note finishing at 4.48% after recovering from earlier declines. The shift followed a University of Michigan survey showing that consumer sentiment improved more than economists had anticipated, partly due to easing gasoline prices. Despite the daily rise, yields generally ended the week lower as markets reacted to cooling geopolitical pressures in the Middle East.

Digital assets showed signs of recovery on June 12, with Bitcoin reclaiming the $63,000 level after a period of intense deleveraging and liquidity shifts. The broader crypto market followed suit, benefiting from the same renewed risk appetite that drove equities higher following reports of a potential cease-fire in the Middle East. Analysts noted that while volatility remains high, the sector is seeing increased interest in tokenization and infrastructure developments from traditional financial institutions.