Good evening and welcome to Markets Desk, your close-of-business briefing from the floor.
Equities pulled back Wednesday as geopolitical uncertainty weighed on sentiment, with the S&P five hundred closing down nearly three quarters of a percent, the Dow off more than one percent, and the Nasdaq holding up relatively better with a loss just under a third of a percent. The catalyst was fading optimism around US-Iran talks, reminding traders that diplomatic headlines can reverse just as fast as they appear.
That tension sent crude sharply higher, with July West Texas Intermediate settling up more than two and a half percent to reach a one-and-a-half-week high. Markets are pricing in a real risk premium around Middle East supply disruption, and until there is a credible path back to the negotiating table, oil will remain sensitive to every headline out of that corridor.
Meanwhile, the SpaceX IPO filing is commanding serious attention. Elon Musk's rocket company is seeking to raise seventy-five billion dollars, offering five hundred fifty-five million shares at one hundred thirty-five dollars each. If it prices as filed, it would be the largest initial public offering in history, surpassing Saudi Aramco and reshaping how investors think about private space infrastructure as an asset class.
That's the tape. Markets Desk, signing off the floor.
