Finance

U.S. equities closed higher as the S&P 500 reached 7,431.46 and the Dow Jones Industrial Average surged by over 900 points in a single session. This recovery was largely driven by a tech sector rebound and cooling Treasury yields following the de-escalation of military threats in the Middle East.

The initial public offering of SpaceX has become the largest in history, drawing massive investor interest and significant trading volume on its opening day. Analysts have already begun issuing aggressive price targets, noting the company's strong cash flow and its potential to leverage aerospace infrastructure for artificial intelligence development.

The Federal Reserve is expected to keep the federal funds rate between 3.50% and 3.75% during Chair Kevin Warsh's debut meeting. While geopolitical progress has lowered some risks, persistent 4.2% headline inflation and a stronger-than-expected labor market have led many economists to push rate cut expectations into 2027.