SpaceX just pulled off the biggest IPO ever 🚀

Welcome back to the Day Trading newsletter 📈

What a week we just had.

SpaceX staged the largest IPO in history Friday and minted the world's first trillionaire, and by Sunday night Washington and Tehran said they'd struck a deal to end the war (sending oil tumbling and capping a week that belonged squarely to the bulls).

Let’s get into it 👇️ 

📆 Tuesday 6/16 — FOMC meeting begins (two-day): Kevin Warsh's first meeting as Fed chair gets underway. No headlines until Wednesday, but it sets up the week's main event.

📆 Wednesday 6/17 — Retail Sales, May (8:30am ET): A read on whether shoppers kept spending as gas prices bit. It lands just hours before the Fed decision, so a hot or cold number could color how markets hear Warsh.

📆 Wednesday 6/17 — Fed rate decision (2pm ET) + Warsh press conference (2:30pm ET): A hold at 3.50%–3.75% is nearly 100% priced. The action is the updated "dot plot" — whether the Fed erases its last 2026 rate cut or even cracks the door to a hike.

📆 Thursday 6/18 — Housing Starts, May (8:30am ET): A check on homebuilding with mortgage rates still high. Weekly jobless claims also land earlier than usual this week around the holiday — watch for any cracks in the labor market that could revive the case for cuts.

📆 Friday 6/19 — Juneteenth holiday: U.S. stock and bond markets are closed.

🤝 The U.S. and Iran reached a deal to end their war, announced Sunday, sending oil sharply lower. President Trump and Pakistan's prime minister confirmed the agreement, and U.S. crude fell more than 4.5% to about $80 a barrel — its lowest since early March — with Brent near $83. Even after the drop, oil is still up more than 40% on the year.

🔼 Stocks capped a strong week as peace hopes and the SpaceX debut lifted sentiment. The Dow surged about 900 points Thursday on Trump's comments that an Iran deal was close, then all three major indexes climbed again Friday — the Dow finished near 51,202, the S&P 500 at about 7,431, and the Nasdaq around 25,889. Materials and financials led.

💰️ The Justice Department cleared Paramount Skydance's roughly $111 billion acquisition of Warner Bros. Discovery with no divestitures required. The deal would unite HBO, CNN, Paramount+, and CBS under one roof. WBD shares barely moved, holding below the $31-a-share cash offer price as investors weighed remaining state and European regulatory hurdles.

🎯 Adobe posted record fiscal Q2 revenue of $6.62 billion, up 13%, and raised its full-year targets — but the stock still slipped. Earnings of $5.96 a share beat estimates, and annual recurring revenue topped $27 billion. The muted reaction reflects a market that now demands flawless results and visible AI payoff from software names.

🛒 Consumer sentiment improved in June for the first time in months, with the University of Michigan's preliminary reading climbing to 48.9 from May's record low. Easing gas prices did the heavy lifting, especially for lower-income households. Still, the index sits about 19% below a year ago, and year-ahead inflation expectations remain elevated at 4.6%.

📈 Bitcoin clawed back to about $63,400, recovering from its post-inflation slump as dip buyers returned. The bounce came after the hot May CPI print rattled crypto earlier in the week. Sentiment remains shaky, though — fear gauges are still flashing caution as traders brace for the Fed.

🥇 Gold drifted near $4,220 an ounce and is headed for a second straight weekly decline. The culprit is the same one weighing on crypto: with rate cuts off the table and a possible hike in play, the opportunity cost of holding an asset that pays no interest keeps climbing — and not even Middle East risk is enough to offset it.

⬇️ The 10-year Treasury yield eased to about 4.48%, slipping as peace hopes cooled the war premium. Yields dropped roughly 10 basis points midweek after Trump signaled an Iran deal was near, with the 2-year at about 4.09%. Bonds now brace for Wednesday's Fed decision, where the path of rates — not the rate itself — is the real story.

SpaceX went public Friday on the Nasdaq under the ticker SPCX, and it was a blowout.

The rocket and satellite maker priced its offering at $135 a share and sold more than 555 million shares to raise roughly $75 billion (the largest IPO of all time).

Demand was staggering: the deal drew more than $250 billion in orders, with retail investors alone putting in over $70 billion in requests.

The stock opened at $150, spiked as high as $176, and closed up about 19% near $161, lifting SpaceX's market value above $2 trillion.

That makes it the sixth-largest publicly traded company in the U.S. on day one. It pushed Elon Musk's paper net worth to roughly $1.14 trillion, making him the first trillionaire on record.

SpaceX vacuumed up a record pile of cash that institutions and retail traders had been hoarding, and the clean debut (big gains, heavy volume, little chaos) is the kind of signal that tells Wall Street the appetite for risk is back.

It also resets the bar for every private "unicorn" weighing a listing: if SpaceX can clear $2 trillion, the IPO window many feared was shut looks wide open again.

What to watch:

• The first few weeks of trading will tell you whether $161 was euphoria or a floor.

• Watch the lockup terms (when insiders can start selling), the first analyst price targets, and whether SpaceX's pop pulls other big names off the IPO sidelines.

• Keep an eye on Tesla. Musk's wealth is now tied to two megacaps at once, and SpaceX's swings may start moving his other stock too.

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⚠️ Disclaimer: Not financial advice. Do your research before making any trades.