Good morning and welcome to Markets Desk.
SpaceX's confidential IPO filing is now public, and it is a document that demands attention. The S-one is packed with aggressive milestones, including Starship's first payload delivery to orbit by the second half of two thousand twenty six. Investors are effectively being asked to price not just a rocket company but Elon Musk's credibility and his vision of colonizing Mars. That is a wide spread to underwrite.
Shifting to Europe, policymakers are floating price caps as a tool to combat inflation, and the corporate reaction has been sharp. CEOs across the continent are pushing back hard, and with good reason. History is not kind to this playbook. Venezuela's experiment with price controls produced shortages, not stability. Brussels would do well to study that chapter before reaching for that lever.
And in media, James Murdoch's Lupa Systems is acquiring New York Magazine, Vox, and its podcast portfolio from Vox Media. This is a bet on durable, multi-platform brand equity at a moment when digital media valuations have been punished. Murdoch is buying audience loyalty across print, audio, video, and live events, which is a different thesis than chasing algorithmic reach.
That's the tape. Markets Desk, signing off the floor.
