Good morning, you're listening to Markets Desk.
SpaceX has tapped Goldman Sachs to lead what's shaping up to be the most consequential IPO in recent memory. The deal would value Elon Musk's rocket company at a figure that would dwarf most public market debuts, and Goldman's selection signals the bank is reclaiming its position as the go-to underwriter for marquee listings after years of fierce competition from rivals.
Shifting to commodities, cocoa prices are bouncing sharply today, up nearly three percent on both the New York and London exchanges. What you're seeing is classic short covering — funds that had been pressing the downside after a six percent slide over three sessions are now unwinding those bets. It's a technical move more than a fundamental one, but it does underscore how volatile the soft commodities complex remains heading into the summer.
And on the consumer side, drivers should prepare to spend more at the service bay. Oil changes are trending toward one hundred twenty dollars as parts costs, labor shortages, and tariff pressure on imported components push auto care prices higher across the board. The risk for consumers who delay maintenance is straightforward — deferred costs compound, and a skipped service today can mean a far larger repair bill down the road.
That's the tape. Markets Desk, signing off the floor.
