Finance

SpaceX successfully launched the largest IPO in history, raising $75 billion and briefly achieving a valuation exceeding $1.7 trillion. While the stock initially surged to nearly $200 per share, it faced a subsequent pullback toward the end of its first week of trading as the broader market reacted to macroeconomic shifts.

A tentative diplomatic agreement between the United States and Iran has led to the reopening of the Strait of Hormuz, causing crude oil prices to drop significantly. Brent crude fell roughly 8% in a week toward the $77 level, providing relief to fuel-sensitive sectors even as broader indices remained volatile due to interest rate uncertainty.

The June 2026 Russell index reconstitution highlighted an unprecedented level of market concentration, with all top ten constituents now exceeding $1 trillion in market capitalization. This group of mega-cap technology and growth companies has expanded its influence, growing nearly 48% in total market value over the past year.