Welcome to Markets Desk, here's what's moving the needle right now.
Ubisoft took a brutal hit on the session, shares plunging sixteen percent after the Assassin's Creed maker warned investors to expect a full-year operating loss. That's a significant downgrade from prior guidance, and it signals deep structural trouble for a studio that has been burning cash on delayed and underperforming titles.
Shifting from gaming to geopolitics, Iran is reviewing a United States peace proposal as President Trump signals he's willing to hold off military or economic escalation for a few more days to, in his words, get the right answers from Tehran. Markets are watching closely, given the direct implications for oil supply and broader risk sentiment across the Middle East.
And over in private markets, SpaceX has dropped its S-one filing, and it reads less like a prospectus and more like a Elon Musk fever dream — references to David Bowie's Starman, plans for orbital AI data centers and deep-space fueling stations. The ambition is enormous, but so is the scrutiny investors will apply when they get past the rocket photography and into the actual financials.
That's the tape. Markets Desk, signing off the floor.
