Finance

SpaceX officially listed on the U.S. stock market under the ticker SPCX with an initial valuation of $1.77 trillion, marking the largest IPO in history. The offering raised $75 billion at a price of $135 per share, drawing intense demand from global investors and significantly shifting the market's weight toward aerospace and AI-integrated sectors.

New economic data revealed that the U.S. Producer Price Index rose 1.1% in May, significantly exceeding analyst expectations of 0.7%. Annual headline inflation climbed to 6.5%, the highest rate recorded since November 2022, intensifying concerns that the Federal Reserve may maintain or even raise interest rates further this year.

The 10-year Treasury yield eased to 4.45% from 4.55% as oil prices dropped more than 4% following breakthroughs in diplomatic talks. While yields remain elevated, the cooling of energy costs has provided a temporary reprieve for rate-sensitive sectors like small-cap stocks, which saw the Russell 2000 jump by 3%.