Good morning and welcome to Markets Desk.
Geopolitical pressure is easing and markets are feeling it. Israel and Iran have halted counterstrikes following direct pressure from Donald Trump, who is pushing hard for a ceasefire extension. The move is pulling risk appetite back into equities and taking some of the safe-haven bid out of the dollar, which slipped from a two-month high today, down roughly a tenth of a percent on the session.
That equity recovery is worth watching closely, because the chip sector is leading the bounce but options traders aren't convinced it holds. Semiconductor stocks are rebounding sharply Monday, but veteran trader Mike Khouw is flagging the move with caution, buying downside protection even as prices climb. The message from the derivatives market is that this rebound may be more reflexive than fundamental.
Meanwhile, the biggest IPO story in years is taking shape. SpaceX is planning to raise at least seventy-five billion dollars in its initial public offering, selling over five hundred fifty-five million shares at one hundred thirty-five dollars apiece, implying a valuation north of one point seven five trillion dollars. Elon Musk is explicitly opening the offering to retail participation, a deliberate move that could generate enormous demand from individual investors.
That's the tape. Markets Desk, signing off the floor.
