Good evening, this is Markets Desk with your closing bell rundown.
Crude oil took a serious hit today, with West Texas Intermediate dropping nearly six percent to close below ninety dollars, after President Trump signaled the Strait of Hormuz could reopen soon. That geopolitical relief trade hit fast and hard, dragging gasoline and sugar prices down in its wake, as energy-linked commodities repriced the risk premium they'd been carrying.
Turning to tech, Nvidia posted a forward revenue forecast of ninety-one billion dollars for the July quarter, topping the analyst consensus of eighty-seven billion, but falling short of the more optimistic projections closer to ninety-six billion. Markets gave the print a cool reception — when expectations run that hot, beating the average isn't always enough to move the needle.
And in what may be the defining capital markets event of the decade, SpaceX filed its S-one prospectus Wednesday, targeting a Nasdaq listing under the ticker S-P-C-X. Goldman Sachs leads the offering. Revenue is up, but so are losses — a tension investors will be pricing carefully as Wall Street prepares for what could be the largest initial public offering in history.
That's the tape. Markets Desk, signing off the floor.
