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SpaceX Climbs 3.1% to $208 Today — Stock Extends Post-IPO Rally on $60B Anysphere Deal

SpaceX shares rose 3.1% to $208 in premarket trading today, extending the post-IPO rally that began when the company went public on June 12 in the largest listing in Nasdaq history. The move builds on Tuesday's announcement that SpaceX will acquire AI coding startup Cursor's parent, Anysphere, in a $60 billion all-stock deal. Analysts say the acquisition signals SpaceX's ambitions beyond rockets and into artificial intelligence, intensifying its rivalry with OpenAI and Anthropic.

Micron Technology Surges 10.8% to $1,088 — Bank Upgrades Fuel AI Memory Supercycle Bet Ahead of Q3 2026 Earnings

Micron Technology shares jumped 10.8% to roughly $1,088 after TD Cowen and RBC Capital Markets sharply raised price targets on the memory chipmaker. The rally was reinforced by a U.S.-Iran peace agreement that lifted risk appetite across semiconductors, alongside analyst forecasts that DRAM prices could climb 58% to 63% in the third quarter and HBM pricing could more than double by 2027. Micron reports fiscal third-quarter results on June 24, with revenue guided to a record $33.5 billion.

Oil Prices Drop 4.8% to $80.75 as Iran Deal Reopens Strait of Hormuz — Energy Sector ETF Falls 3.6%

U.S. crude oil fell 4.8% to $80.75 a barrel and Brent crude dropped 4.7% to $83.17 after the United States and Iran reached a preliminary agreement to end their conflict and reopen the Strait of Hormuz, a route handling roughly 20% of global oil supply. The Energy Select Sector SPDR fund slid 3.6% even as the broader market rallied, with analysts cautioning that full shipping traffic normalization could take months.

S&P 500 and Nasdaq Hit Record Highs, Dow Gains 469 Points — VIX Falls 8.4% to 16.20 as Iran Deal Lifts Risk Appetite

The S&P 500 gained 1.7% to a record close of 7,554.29 and the Nasdaq Composite jumped 3.1% to 26,683.94, while the Dow Jones Industrial Average rose 469 points to a new all-time high of 51,671, after the U.S. and Iran reached a preliminary peace agreement. The CBOE Volatility Index fell 8.4% to 16.20, with seven of eleven S&P sectors closing higher and technology leading gains.

Bitcoin Slips Below $66,000 Despite Iran Peace Deal as Traders Eye Trump Reversal Risk

Bitcoin briefly rose above $67,000 before slipping to trade near $65,845, up just 0.3% on the day despite a broad equity rally tied to the U.S.-Iran peace memorandum. The muted crypto reaction contrasts with the S&P 500's 1.7% gain and Nasdaq's 3.1% surge, with traders citing caution over the durability of the deal and the approaching Fed decision as reasons for the divergence.

US-Iran Ceasefire Sends Nasdaq Futures Up 2.2% — Oil Crashes Below $80 as Strait of Hormuz Reopens

Nasdaq 100 futures jumped 2.2% and S&P 500 futures rose 1.3% on Monday after the US and Iran agreed to a ceasefire that will reopen the Strait of Hormuz to oil traffic. Brent crude tumbled toward $83 a barrel from above $88, its sharpest drop in months. Gold and Bitcoin also climbed as risk appetite returned, while the dollar weakened against major currencies on reduced geopolitical risk premia.

SpaceX Stock (SPCX) Holds Near $161 After 19% IPO Pop — Surpasses Tesla as Sixth Most Valuable US Company

SpaceX stock (SPCX) is trading near $160.95 after closing up nearly 20% on its Nasdaq debut, surpassing Tesla to become the sixth most valuable US company by market capitalization. The IPO priced at $135 per share, raising about $75 billion at an implied valuation of roughly $1.77 trillion, the largest public market debut in history. Investors are now watching whether the stock can sustain momentum into its first full trading week.

Fed Faces June 17 FOMC Decision With 89% Odds of No Change — 4.2% CPI Keeps Cut Hopes on Ice

The Federal Reserve's FOMC meets June 16-17, with prediction markets assigning roughly 89% to 99% odds that the federal funds rate stays unchanged at 3.50%-3.75%. May CPI came in at 4.2% year-over-year, well above the Fed's 2% target, while unemployment near 4.3% has reduced expectations for near-term rate cuts. Investors are watching closely for any shift in the Fed's policy bias under new Chair Kevin Warsh.

U.S. Navy Seizes Iranian Cargo Ship Touska, Tehran Shuts Hormuz Again; Ceasefire Talks Collapse as Oil Surges 7%

The USS Spruance fired on and seized the Iranian-flagged cargo vessel Touska in the Gulf of Oman after it defied U.S. blockade warnings over six hours, triggering Iran to reimpose full closure of the Strait of Hormuz on Saturday. Tehran's foreign ministry announced Monday it has no plans to attend a second round of Islamabad peace talks, sending WTI crude surging 7% above $89 and U.S. equity futures falling sharply as the fragile ceasefire — set to expire Wednesday — appears on the brink of collapse.